NEW YORK--(BUSINESS WIRE)--May. 7, 2012--
Philip Morris International Inc. (NYSE / Euronext Paris: PM) today
announced that Hermann Waldemer, Chief Financial Officer, has elected to
take early retirement effective July 31, 2012. He will be succeeded by
Jacek Olczak, currently President, European Union Region, effective
August 1, 2012. Drago Azinovic, currently President, Philip Morris
Japan, will succeed Mr. Olczak.
“Hermann’s decision to take early retirement brings to a close an
illustrious career with Philip Morris International that has spanned a
quarter of a century,” said Louis C. Camilleri, Chairman and Chief
Executive Officer. “His crowning achievement is undoubtedly his
invaluable contribution as CFO to our company’s tremendous performance
since our spin off from Altria Group, Inc., in March 2008. He is held in
the utmost regard by all those who, from within and outside the company,
have benefited from his profound business acumen and exemplary
leadership skills. He leaves us with our deepest gratitude and fondest
wishes for a long and healthy retirement and well-earned time with his
“I am genuinely pleased to also announce that Jacek Olczak will succeed
Hermann as Chief Financial Officer,” continued Mr. Camilleri. “Jacek is
a highly capable and experienced executive who has served as President,
European Union Region, since April 2009. Since joining PMI in 1993,
Jacek has held a series of increasingly senior positions in Finance,
Sales and Operations, including General Manager Romania, Managing
Director Poland and the Baltic States, Area Vice President Central
Europe and Managing Director Germany and Austria. I have long admired
Jacek for his extraordinary intellect, his consistent ability to deliver
strong results and his proven leadership skills. I am convinced he will
be a tremendous CFO who will continue our steadfast commitment to
deliver timely, accurate and transparent communications to the
investment community and our unwavering resolve to enhance shareholder
value. With Jacek, we are privileged to have in our senior management
ranks an executive with the caliber of experience and talent to ensure a
seamless transition following Hermann’s departure.”
“Assuming management responsibility as President, European Union Region,
is Drago Azinovic who joined PMI in 2009 as Vice President Marketing and
Sales for our Asia Region after a long and successful career in the
tobacco industry,” continued Mr. Camilleri. “In July 2011, he was
appointed to his current position as President of our affiliate in
Japan. Ever since he joined us, Drago has proven to be a
results-oriented, disciplined and creative leader who has made countless
contributions to our business in our fast-growing Asia Region.”
“These appointments exemplify one of the immense strengths of Philip
Morris International, namely the exceptional quality of its employees
and the considerable depth of talent of its senior management,”
concluded Mr. Camilleri.
For biographies of the PMI senior management team, see: http://www.pmi.com/eng/about_us/our_management/pages/our_management.aspx
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international
tobacco company, with seven of the world’s top 15 international brands,
including Marlboro, the number one cigarette brand worldwide.
PMI’s products are sold in approximately 180 countries. In 2011, the
company held an estimated 16.0% share of the total international
cigarette market outside of the U.S., or 28.1% excluding the People’s
Republic of China and the U.S. For more information, see www.pmi.com.
Source: Philip Morris International Inc.
Philip Morris International Inc.
Lausanne: +41 (0)58 242 4666
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