Camilleri to serve as PMI retiree chairman

The board of directors of Philip Morris International yesterday declared a regular quarterly dividend of $1.00 per common share, payable on January 9 to stockholders of record as of December 24.

The ex-dividend date is December 22.

Meanwhile, PMI said that the chairman of the board, Louis C. Camilleri, would retire from employment with the company on December 31, from which time he would serve as a non-employee chairman.

In this capacity, Camilleri would continue unchanged his role of facilitating communication between the board and management, assisting the CEO in matters of long-term business strategy, and presiding at shareholder and board meetings.

PMI said Camilleri’s retirement would not affect his leadership role as chairman and that his pension benefits would be preserved at present levels, which would otherwise have been reduced under the company’s pension formula.