NEW YORK--(BUSINESS WIRE)--May. 5, 2009--
Regulatory News:
Philip Morris International Inc. (NYSE / Euronext Paris: PM) held its
2009 Annual Meeting of Stockholders today. Louis C. Camilleri, Chairman
and Chief Executive Officer, highlighted the company’s key achievements
in 2008 and reaffirmed the company’s steadfast commitment to deliver
superior returns to its shareholders.
“The highlight of 2008 was clearly our spin-off from Altria Group, Inc.
in March. While we were not completely spared the effects of the global
financial erosion and volatility in the capital markets during the
latter part of the year, we transitioned flawlessly to our new status as
the largest publicly traded tobacco company. PMI’s strong 2008 results
underscore that our business fundamentals are in excellent shape and our
solid business momentum has set the stage for further growth in the
years to come.”
“Our track record is excellent. Over the last ten years, we have
increased our volume at a compound annual growth rate of 2.0% and our
OCI at a compound annual growth rate of 7.6%,” said Mr. Camilleri. “In
spite of the difficult global economic environment, I remain very
confident in PMI’s ability to continue to generate superior returns for
our shareholders over the long term.”
More than 86% of the shares entitled to vote were represented at the
meeting in person or by proxy, the nine nominees for director named in
the proxy statement were elected; the selection of
PricewaterhouseCoopers SA as independent auditors was ratified; and the
eligibility, business criteria and award limits under the PMI 2008
Performance Incentive Plan were approved.
An archived copy of the audio webcast of PMI’s Annual Meeting of
Shareholders is available until 5:00 p.m. ET on Thursday, June 4, 2009
at www.pmintl.com.
Forward-Looking and Cautionary
Statements
This press release contains projections of future results and other
forward-looking statements that involve a number of risks and
uncertainties and are made pursuant to the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995. The following
important factors could cause actual results and outcomes to differ
materially from those contained in such forward-looking statements.
Philip Morris International Inc. and its tobacco subsidiaries (PMI) are
subject to intense price competition; changes in consumer preferences
and demand for their products; fluctuations in levels of customer
inventories; increases in raw material costs; the effects of foreign
economies and local economic and market conditions; unfavorable currency
movements and changes to income tax laws. Their results are dependent
upon their continued ability to promote brand equity successfully; to
anticipate and respond to new consumer trends; to develop new products
and markets and to broaden brand portfolios in order to compete
effectively; and to improve productivity.
PMI is also subject to legislation and governmental regulation,
including actual and potential excise tax increases; discriminatory
excise tax structures; increasing marketing and regulatory restrictions;
the effects of price increases related to excise tax increases on
consumption rates and consumer preferences within price segments; health
concerns relating to the use of tobacco products and exposure to
environmental tobacco smoke; privately imposed smoking restrictions; and
governmental investigations.
PMI is subject to litigation, including risks associated with adverse
jury and judicial determinations, and courts reaching conclusions at
variance with the company’s understanding of applicable law.
PMI is further subject to other risks detailed from time to time in its
publicly filed documents, including the Form 10-K for the year ended
December 31, 2008. PMI cautions that the foregoing list of important
factors is not complete and does not undertake to update any
forward-looking statements that it may make, except in the normal course
of its public disclosure obligations.
About Philip Morris International Inc.
Philip Morris International Inc. (PMI) [NYSE / Euronext Paris: PM] is
the leading international tobacco company, with seven of the world’s top
15 brands including Marlboro, the number one cigarette brand
worldwide. PMI has more than 75,000 employees and its products are sold
in approximately 160 countries. In 2008, the company held an estimated
15.6% share of the total international cigarette market outside of the
U.S. For more information, see www.pmintl.com.
Source: Philip Morris International Inc.
Philip Morris International Inc.
Investor Relations
New
York +1 (917) 663 2233
Lausanne +41 (0)58 242 4666