Philip Morris shuffles management on its quest toward a smoke-free future

Philip Morris International announced a slate of personnel and structural changes on Thursday, a move the company said will help it transition to a smoke-free future.

Among the personnel moves, Philip Morris appointed Jacek Olczak to its new chief operating officer position, where he will be responsible for global strategy and delivering results for both conventional cigarettes and reduced-risk products, including iQOS, according to a press release.

Most recently, Olczak served as chief financial officer, a position he has held since 2012. Olczak joined Philip Morris in 1993.

“He is a key company leader who has always delivered results with precision and quality,” a company spokesman said in an email.

Martin King, currently president of the Asia Region, will take over for Olczak as chief financial officer. André Calantzopoulos will remain chief executive officer.

Philip Morris reorganized its regional structure, increasing the number of regions to 6 from 4.

The Asia region has been divided between the East Asia and Australia region, including Japan and Korea, and the South and Southeast Asia Region, including Indonesia and the Philippines. Eastern Europe is now its own region, whereas before, it was grouped with the Middle East and Africa Region and PMI Duty Free.

“Re-aligning the role and composition of the regions reflects an increased focus on growth for our potentially reduced-risk products,” the spokesman said in an email. “The regions will equip and support countries to deliver success, based on their specific business environments and consumer…

Read the full article at the Original Source..

Back to Top