Philip Morris International Inc. (PMI) Holds 2012 Annual Meeting of Stockholders
NEW YORK--(BUSINESS WIRE)--May. 9, 2012--
Philip Morris International Inc. (NYSE / Euronext Paris: PM) held its
2012 Annual Meeting of Stockholders today. Louis C. Camilleri, Chairman
and Chief Executive Officer, highlighted the company’s key achievements
in 2011 and reaffirmed the company’s steadfast commitment to deliver
superior returns to its shareholders.
“2011 was an outstanding year for PMI. Our cigarette volume grew by 1.7%
to 915 billion units. Net revenues increased by 14.3% to $31.1 billion.
Reported Operating Companies Income, or “OCI”, was up by 18.7% to $13.6
billion. Reported diluted earnings per share increased by 23.7% to reach
$4.85,” said Mr. Camilleri.
“We are steadfastly committed to using our significant cash to enhance
“During 2011, we outperformed every single company that makes up the Dow
30, both in terms of share price and total shareholder returns,”
continued Mr. Camilleri.
Mr. Camilleri also paid tribute to Hermann Waldemer, Chief Financial
Officer, whose decision to take early retirement, effective July 31,
2012, was communicated on May 7, 2012, along with the announcement of
Mr. Waldemer’s successor, Jacek Olczak.
More than 87% of the shares entitled to vote were represented at the
meeting in person or by proxy. The twelve nominees for director named in
the proxy statement were elected; the selection of
PricewaterhouseCoopers SA as independent auditors was ratified; the
compensation of named executive officers as disclosed in the Company’s
Proxy Statement was approved on an advisory basis; PMI’s 2012
performance incentive plan was approved; and the two stockholder
proposals presented at the meeting were defeated. Final voting results
will be included in a Form 8-K that will be filed with the SEC.
An archived copy of the audio webcast of PMI’s Annual Meeting of
Stockholders is available until 5:00 p.m. ET on Thursday, June 7, 2012
For reconciliations of PMI’s operating companies income to operating
income, and net revenues, excluding excise taxes, to reported net
revenues, refer to Schedule 5 and Schedule 14, respectively, of the 2011
full-year earnings release.
Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading international
tobacco company, with seven of the world’s top 15 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.
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