Marc Firestone to Retire; PMI Appoints Successor

Philip Morris International (PMI) has appointed Suzanne Rich Folsom to the position of senior vice president and general counsel, leading legal, ethics and compliance, effective July 1, 2020. She succeeds Marc Firestone, who will retire later this year. Since January 2018, Firestone has held a dual role at PMI: president, external affairs and general counsel. He will continue to lead the company’s external affairs function until a successor is appointed.

Folsom comes to PMI from Manatt, Phelps & Phillips, where she co-chaired the investigations, compliance, and strategic response group and was a member of the government & regulatory and cyber & privacy groups. Before that, she was the general counsel, chief compliance officer, and senior vice president, government affairs and global public policy at United States Steel Corp. Previously, she held leadership positions with a number of global entities, including AIG, ACADEMI and the World Bank, and served in key roles for several heads of state and their families. Folsom holds degrees from Georgetown University Law Center and Duke University.

In her new position based in Lausanne, Switzerland, Folsom will report to PMI CEO Andre Calantzopoulos. Leading the legal, ethics and compliance teams, she will be an ambassador for the company across legal and regulatory environments; influence conversations aimed at creating a climate of change for better consumer choice as the company drives forward with its smoke-free transition; serve as counselor to PMI’s executive leadership team, board of directors, and other leaders; and build support for appropriate, risk-proportionate regulatory frameworks, among other functions.

“Suzanne Rich Folsom comes to us with a reputation as one of the most highly regarded and experienced general counsels and compliance and corporate governance specialists, having operated in very complex business environments,” said Calantzopoulos.

“Together with the board and our senior leadership, I extend enormous gratitude to Marc Firestone for all he has done for PMI,” he added. “A diplomatic statesman beyond compare, Marc has been the external face of PMI, serving as the embodiment of our ethical values and liaising with governments and regulators to inject common sense into the debate around tobacco.”