Philip Morris International has announced a new regional structure and changes in senior management personnel.
We are restructuring our company's regional structure to further support the growth of our smoke-free business, enhance our consumer-centered approach, and accelerate our speed of innovation and deployment - all in line with our ambition to become a predominantly net revenue smoke-free business by 2025," said Jacek Olczak, CEO of PMI, in a statement.
The new structure will also create new opportunities to further cultivate our high-level talents, strengthen the pipeline of future leaders who will lead PMI towards a smoke-free future in the coming years. I have confidence in the exceptional talent and determination of our employees and wish them the best in their new roles.
By the end of January 2023, PMI will be reshuffling senior management leaders in six regions and reassigning them to business operations in four regions.
The current President of East Asia and Australia, Paul Riley, will be appointed as the President of East Asia, Australia, and PMI Duty-Free Zone. The current President of EU Region, Frederic Devreux, will be appointed as the President of South Asia and Southeast Asia, the Commonwealth of Independent States (CIS), the Middle East, and Africa. The current Senior Vice President of Operations, Massimo Andolina, will be appointed as the President of Europe. Deepak Mishra will continue to serve as the President of the Americas region. Drago Azinovic, the current President of the Middle East and Africa, and PMI Duty-Free Zone, will leave the organization after the transition period.
In addition, the following appointments will also come into effect:
Current President of Eastern Europe region, Marco Mariotti, will be appointed as President of CIS, Central Asia and Israel, reporting to Frederic de Wilde. Stacey Kennedy, current President of South Asia and Southeast Asia regions, will be appointed as CEO of PMI USA business, reporting to Deepak Mishra. Scott Coutts, current Vice President of Global Manufacturing, will be appointed as Senior Vice President of Operations, succeeding Massimo Andolina and reporting to Jacek Olczak. "We are changing our regional structure to further support the growth of our smoke-free business, strengthen consumer-centricity, and accelerate the speed of innovation and deployment.
PMI CEO Jacek Olczak.
According to PMI, the new regional structure aligns with the company's business strategy for approximately 180 markets where its products are sold. The aim is to accelerate the growth of IQOS, the smoke-free product that already holds double-digit market share, while also facilitating the transition from cigarettes to smoke-free products in untapped markets, including the US.
Furthermore, the new regional structure will support PMI in expanding the use of smoke-free products for adults who would have otherwise continued smoking, including in low- and middle-income markets, with PMI hoping to capture at least half of the market for its smoke-free products by 2025. Each region will encompass individual markets as well as market clusters and will provide opportunities for accelerated career development within PMI's diverse talent pool. The company's quarterly performance report and related documents will reflect the new regional structure as of the first quarter of 2023.
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