Philip Morris International Appoints Jacek Olczak as CEO

[Asia Economy Reporter Lee Seon-ae] Philip Morris International announced on the 15th that it has appointed Jacek Olczak, Chief Operating Officer (COO), as the new Chairman and CEO.

Jacek Olczak, who joined Philip Morris in 1993, has led the company as Chief Operating Officer of Philip Morris International since January 2018. He served as Chief Financial Officer (CFO) from August 2012 to December 2018.

The current Chairman, Andr? Calantzopoulos, will move to the position of the new Chairman of the Board. The current Board Chairman, Louis Camilleri, will step down from the chairmanship immediately as of the announcement of the organizational restructuring due to personal reasons. Accordingly, independent outside director Lucio Noto is expected to serve as interim chairman until May, when Andr? Calantzopoulos succeeds the chairmanship.

Philip Morris International explained that this leadership change is intended to ensure strong continuity of management through a smooth succession process. It is reported that both the new Chairman and the Chairman have closely collaborated since Philip Morris International spun off as an independent company. In particular, they have been recognized for innovative leadership in the non-combustible products sector.

Jacek Olczak’s term as the new Chairman will begin in May next year.

Louis Camilleri said, "I am very pleased that the current Chairman, Andr? Calantzopoulos, will take over the chairmanship and that Jacek Olczak has been appointed as the head of Philip Morris International as of May 2021," adding, "Considering Jacek Olczak’s leadership achievements at Philip Morris International, he is fully qualified to succeed Andr? Calantzopoulos."

Andr? Calantzopoulos said, "It is an honor to follow Louis Camilleri, who was both a former Chairman and CEO," and added, "On behalf of the management of Philip Morris International, I will contribute to the company’s business success and lead innovation with outstanding leadership and guidance."

Jacek Olczak expressed, "I promise to deliver continuous business performance by fully leveraging the vision of a 'smoke-free future' and the tremendous business opportunities related to it for consumers, shareholders, and communities."

This content was produced with the assistance of AI translation services.