Thursday, June 20, 2024

PMI Names New Consumer Execs, Commits To Carbon Neutrality


The tobacco giant announced new staff and big plans to combat climate change.

LAUSANNE, Switzerland — Philip Morris International, one of the world’s largest tobacco companies, announced that they have hired new corporate leaders to lead the company toward a smoke-free product base and that they intend to meet certain carbon neutrality goals in order to combat climate change.

“We are introducing a category management structure to further unlock and enhance PMI’s growth as the company accelerates toward a smoke-free future, ensuring that we remain focused, delivering on what matters, seamlessly—faster, with better quality, and improved cost,” said Jacek Olczak, the chief executive officer of Philip Morris International (PMI).

According to a press statement, Stefano Volpetti has been appointed PMI’s president for the smoke-free products category while maintaining the role of chief consumer officer. Werner Barth was named as PMI’s president for the combustibles category and global combustibles marketing strategy.

“Stefano and Werner are leaders of exceptional caliber, and I have every confidence that they will succeed in their new roles, working closely together to achieve a smoke-free future.”

“Establishing a global end-to-end category view will be fundamental in further driving our smoke-free products’ growth trajectory, fostering consumer centricity, and leveraging the strengths of our markets and regions as we work together to deliver on our smoke-free future ambitions,” said Volpetti.

Barth added: “The new structure will be paramount in achieving our financial and non-financial targets over the next several years, helping us maintain our competitive position in the cigarette market, which in turn best positions us to significantly accelerate our smoke-free journey.”

Philip Morris International also recently announced the company’s plans to be carbon neutral in the coming years.

PMI issued its “Low-Carbon Transition Plan” with updated targets and a strategy to decarbonize corporate operations by the year 2025. This plan also outlines goals to reach net-zero emissions across the entire PMI value chain by the year 2040.

“By presenting our low-carbon transformation strategy, we hope to encourage change and foster engagement with investors and other stakeholders who will be able to evaluate whether our company is appropriately adapting its business model for success in a net-zero carbon economy,” said Jennifer Motles, PMI’s chief sustainability officer. “The LCTP showcases how our targets are underpinned by detailed operational measures and a solid business strategy, which are vital to translate ambition into action, achievement, and impact, and most important, the only way to safeguard the sustainability of our business and to help contribute to wider societal action.”

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