New President Appointed to Lead PMFTC in the Philippines

News by 2FIRSTS.ai
Apr.24.2024
New President Appointed to Lead PMFTC in the Philippines
Gijs Lambert Johan de Best to Replace Denis Gorkun as President of Philippines' PMFTC, marking end of Gorkun's 5-year tenure.

According to The Philippine Star, on April 20, Gijs Lambert Johan de Best will be taking over as the president of Philip Morris Fortune Tobacco Corporation (PMFTC), replacing Denis Gorkun who has been serving as the company's president since September 2019. Gorkun is set to resign at the end of April, marking the end of his five-year term at PMFTC and nearly 30-year career at PMI.

 

Debest currently serves as the Vice President of Strategy and Project Delivery for South Asia, Southeast Asia, the Commonwealth of Independent States, and the Middle East and Africa at Philip Morris International. In August 2004, he began his career at PMI as a financial analyst in the Netherlands office before holding management positions in Belgium, Spain, Switzerland, and Germany, ultimately serving as Director of Business Development in Hong Kong.

 

PMFTC is a joint venture between PMI and LT Group's Fortune Tobacco Corp., which owns 49.6% of PMFTC. In 2023, the company holds a 55.2% market share in the tobacco industry in the Philippines. PMFTC stated that it was during Gorcun's tenure that the company's smoke-free products were commercialized in the country.

 

The tobacco division of LTG saw a 26% decrease in net profit last year, dropping from 15.34 billion pesos to 11.38 billion pesos. LT Group attributed this decline to industry-wide price increases in the first quarter of last year, which suppressed sales. LT Group stated that the rise in illegal cigarette trade and changes in trade inventory also contributed to the decrease in revenue.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Australian Study: Vaping Three Times More Effective Than Traditional Therapies for Quitting Smoking, Long-Term Health Risks Unclear
Australian Study: Vaping Three Times More Effective Than Traditional Therapies for Quitting Smoking, Long-Term Health Risks Unclear
A new Australian study found flavored nicotine e-cigarettes are three times more effective than gum or lozenges for quitting smoking. The trial of 1,000 smokers on government support showed higher quit rates with vaping, but long-term health risks remain unclear.
Jul.17 by 2FIRSTS.ai
China Tobacco Deputy Administrator Liu Sanjiang Meets with BMJ CEO Huang Tianle
China Tobacco Deputy Administrator Liu Sanjiang Meets with BMJ CEO Huang Tianle
On July 15, Liu Sanjiang, Deputy Administrator of the State Tobacco Monopoly Administration, met with BMJ CEO Huang Tianle in Beijing for a cordial discussion. Heads of several departments from the administration also attended the meeting.
Jul.16 by 2FIRSTS.ai
Canadian Nicotine Alternatives Firm Delota Partners with 180 Global to Expand Eastern E-Cigarette Market
Canadian Nicotine Alternatives Firm Delota Partners with 180 Global to Expand Eastern E-Cigarette Market
Nicotine e-cigarette retailer Delota Corp. has announced a strategic partnership between its subsidiary 180 Smoke and 180 Global, securing online vaping retail rights across five eastern Canadian provinces. Under the deal, 180 Global will manage the regional brand, which may reduce Delota’s revenues and expenditures but is expected to improve profitability, highlighting its push to expand in the Canadian market.
Jul.10 by 2FIRSTS.ai
Stalybridge, UKsupermarket shut down for illegal tobacco sales: Court imposes three-month closure order
Stalybridge, UKsupermarket shut down for illegal tobacco sales: Court imposes three-month closure order
Shop in Stalybridge, UK shut down for selling illegal tobacco products, facing a three-month closure order from court.
Aug.13 by 2FIRSTS.ai
Retraction Statement Regarding the Article: “2Firsts Investigation | U.S. Tightens E-Cigarette Enforcement, Disrupting China Air Shipments — Industry Estimates $78 Million in Goods Seized in Six Months”
Retraction Statement Regarding the Article: “2Firsts Investigation | U.S. Tightens E-Cigarette Enforcement, Disrupting China Air Shipments — Industry Estimates $78 Million in Goods Seized in Six Months”
Retraction Statement.
Jul.15
New Zealand Government: Repeals Vaping Device Removability Rule, Disposable Vape Ban Remains in Effect
New Zealand Government: Repeals Vaping Device Removability Rule, Disposable Vape Ban Remains in Effect
New Zealand’s coalition government will revoke the requirement for all vaping devices, including heated tobacco products, to have removable batteries starting September 1, following a legal challenge by Mason Corporation, parent company of vape retailer Shosha. The decision does not affect the ban on disposable vaping devices, which came into effect on June 17.
Jul.24 by 2FIRSTS.ai