“Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving,” said
“We are amid a profound transformation at PMI,” continued Olczak, “and our new base in
The new office—which is also PMI’s headquarters—will house the
“We are excited to welcome PMI to the
“Philip Morris International’s move to
PMI is widely recognized as a top employer and a leader in gender equity, equitable pay, and environmental, social, and corporate governance (ESG) measures. Recognitions include:
- The first international company to achieve global EQUAL-SALARY certification
- Included in the 2021 Bloomberg Gender-Equality Index
- Certified Global Top Employer for five consecutive years by the
- Ranked on CDP’s A List for climate change for seven years in a row
- Included in the
- Awarded CDP’s “triple A” score in 2020 for efforts to combat climate change and the protection of forests and water security
Since 2016, PMI has undergone a major business transformation, moving away from cigarettes and other combustible tobacco products in favor of smoke-free alternatives that, while not risk-free, are scientifically substantiated to be a better choice than continued smoking. PMI is committed to a smoke-free future, and its noncombustible products already accounted for nearly 30 percent of net revenues in the first quarter of 2021. Building on this progress, the company has accelerated its ambitions, now aiming to be a majority smoke-free company in terms of net revenues by the end of 2025.
The potential public health impact of PMI’s scientifically substantiated smoke-free products is increasingly being recognized by governments and public health authorities. For instance, in the
Globally, as of
Note to editor:
This press release contains projections of future results and other forward-looking statements. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.
PMI’s business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products; health concerns relating to the use of tobacco and other nicotine containing products and exposure to environmental tobacco smoke; litigation related to tobacco use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; changes in adult smoker behavior; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of our information systems and effectiveness of our data privacy policies. PMI's future profitability may also be adversely affected if we are unsuccessful in our attempts to produce and commercialize reduced-risk products (“RRPs”) or if regulation or taxation do not differentiate between such products and cigarettes; if we are unable to successfully introduce new products, promote brand equity, enter new markets or improve our margins through increased prices and productivity gains; if we are unable to expand our brand portfolio internally or through acquisitions and the development of strategic business relationships; or if we are unable to attract and retain the best global talent. Future results are also subject to the lower predictability of our reduced-risk product category’s performance.
PMI is further subject to other risks detailed from time to time in its publicly filed documents, including the Form 10-Q for the quarter ended
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