Philip Morris International Restructures to Drive Its Smoke-Free Transformation

Nov.05

Philip Morris International (PMI) announced a new organizational model effective January 1, 2026, creating two main business units — PMI International and PMI U.S. — to accelerate its smoke-free strategy. The restructuring replaces four regional segments with three: International Smoke-Free, International Combustibles, and U.S., enhancing agility, governance, and long-term growth in reduced-risk products.

Key Points

Effective Date: The new structure will take effect on January 1, 2026.
Core Units: PMI International and PMI U.S., both reporting to CEO Jacek Olczak.
Reporting Segments: International Smoke-Free, International Combustibles, and U.S.
Leadership Changes: Frédéric de Wilde appointed CEO PMI International; Stacey Kennedy continues as CEO PMI U.S.
Strategic Focus: Strengthen smoke-free product expansion, enhance market flexibility, and grow ZYN and heat-not-burn categories globally.

2Firsts，January 1, 2026. — Philip Morris International Inc. (PMI) (NYSE: PM) today announced a new corporate organizational model effective January 1, 2026, to strengthen its agility and support its journey toward a smoke-free future under the leadership of Group CEO Jacek Olczak.

PMI’s smoke-free business continues to expand globally, with substantial U.S. growth. The new structure establishes two main business units:

PMI International, led by Frédéric de Wilde, responsible for multi-category strategy, tobacco harm reduction, and smoke-free product expansion in all markets outside the U.S., while maximizing the value of combustibles over time.

PMI U.S., led by Stacey Kennedy, focusing on accelerating the ZYN nicotine pouch brand and expanding the company’s heat-not-burn portfolio as a key long-term growth driver.

PMI’s wellness arm, Aspeya, will continue reporting to Jacek Olczak.

The existing four regional reporting segments will be replaced with three: International Smoke-Free, International Combustibles, and U.S.

PMI will begin reporting under this structure in Q1 2026, and will release adjusted historical financials for 2023–2025 following its FY2025 results.

“This new organizational structure better reflects how we operate today and equips us to maximize growth for the long term,” said Jacek Olczak, Group CEO of PMI.

Image Source: Philip Morris International

References:

[1] Philip Morris International Evolves Organizational Model to Advance Smoke-Free Future

Also Read:

[1] Italian anti-trust agency investigates PMI's marketing of smoke-free products, company denies wrongdoing

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