LAUSANNE, Switzerland -Monday 2 March 2020 [ AETOS Wire ]
(BUSINESS WIRE)--
Philip Morris International Inc. (PMI) (NYSE: PM) announced today that
Emmanuel Babeau has been appointed Chief Financial Officer, replacing
Martin King. King will be taking on a new role as CEO, PMI America, a
newly created function. Reporting to global CEO André Calantzopoulos,
King will coordinate both international services based in the U.S. and
all U.S. representation, including PMI’s relationship with Altria, which
is commercializing IQOS in the American market.
Emmanuel Babeau will join PMI on May 1,
2020 from Schneider Electric, where he served most recently as Deputy
CEO in charge of Finance and Legal Affairs. A native of France and
graduate of ESCP Business School, he has spent nearly three decades
leading fundamental change across industries.
“PMI is undergoing a period of intensive
change as we transition away from cigarettes to our science-based
smoke-free products—products that are much better alternatives than
continued cigarette smoking,” said André Calantzopoulos. “We are
thrilled that Emmanuel will be joining us to further accelerate the PMI
transformation towards a smoke-free future. He has an enviable track
record of challenging the status quo and growing businesses under the
most complex circumstances.”
During his 10 years at Schneider
Electric, Babeau helped to grow the company from €18 billion market cap
to c. €60 billion, while transforming the business model from hardware
products for electrical distribution into digital technologies driving
the energy transition and industry 4.0. In 2019, Harvard Business Review
cited Schneider Electric as one of the top 15 business transformations
of the past decade. The company now has €27 billion in revenues and is a
leader in digital solutions for efficiency and sustainability.
Earlier, Babeau spent 15 years at Pernod
Ricard, including six years as Group CFO, where he helped to turn a
regional challenger into the world’s second-largest wine and spirits
company. That transformation involved several important acquisitions,
including Seagram and Allied Domecq, which brought to Pernod Ricard
iconic wine and spirit brands such as Chivas Regal, Martell, Malibu, and
Mumm.
Emmanuel Babeau commented: “PMI is
precisely the challenge I was looking for: a global leader in its
industry with a commitment to fundamental change—and one that is
prompted not only by business strategy but also by a desire to operate
more sustainably and in the interest of public health. I am excited
about working with André Calantzopoulos, Jacek Olczak, and the rest of
the leadership team to achieve PMI’s business objectives.”
Babeau sits on the boards of Sodexo, Sanofi, and AVEVA PLC. In his new position, he will report to André Calantzopoulos.
Philip Morris International: Delivering a Smoke-Free Future
Philip Morris International (PMI) is
leading a transformation in the tobacco industry to create a smoke-free
future and ultimately replace cigarettes with smoke-free products to the
benefit of adults who would otherwise continue to smoke, society, the
company, and its shareholders. PMI is a leading international tobacco
company engaged in the manufacture and sale of cigarettes, as well as
smoke-free products and associated electronic devices and accessories,
and other nicotine-containing products in markets outside the United
States. In addition, PMI ships a version of its IQOS Platform 1
device and its consumables authorized by the U.S. Food and Drug
Administration to Altria Group, Inc. for sale in the United States under
license. PMI is building a future on a new category of smoke-free
products that, while not risk-free, are a much better choice than
continuing to smoke. Through multidisciplinary capabilities in product
development, state-of-the-art facilities, and scientific substantiation,
PMI aims to ensure that its smoke-free products meet adult consumer
preferences and rigorous regulatory requirements. PMI's smoke-free IQOS
product portfolio includes heat-not-burn and nicotine-containing vapor
products. As of December 31, 2019, PMI estimates that approximately 9.7
million adult smokers around the world have already stopped smoking and
switched to PMI's heat-not-burn product, available for sale in 52 markets in key cities or nationwide under the IQOS brand. For more information, please visit www.pmi.com and www.pmiscience.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200302005422/en/
Contacts
International Press Inquiries
Jody Sunna, Philip Morris International
T. +41 (0)58 242 4500
E. jody.sunna@pmi.com
Jody Sunna, Philip Morris International
T. +41 (0)58 242 4500
E. jody.sunna@pmi.com
USA Press Inquiries
Corey Henry, Philip Morris International
T. +41 (0)58 242 4500
E. corey.henry@pmi.com
Corey Henry, Philip Morris International
T. +41 (0)58 242 4500
E. corey.henry@pmi.com