Mishra to Lead PMI’s Americas Division
Philip Morris International has appointed former Chief Strategy Officer Deepak Mishra president of its Americas region effective July 1 as part of a restructuring initiative for that division. PMI’s Americas region covers the United States, Canada and Latin America.
The new structure in the Americas will focus on three areas: strengthening PMI’s leadership in Latin America and Canada as the company accelerates toward a smoke-free future; deepening efforts with partners to commercialize reduced-risk products in the U.S.; and building a vital launchpad for the company’s “beyond nicotine” strategy in the U.S. in coordination with PMI’s life sciences group through expanded partnerships and commercial deployment.
“I am thrilled to name Deepak Mishra, one of our top business leaders, to one of the most important roles for the future of our company,” said PMI CEO Jacek Olczak in a statement. “In less than three years with PMI, he has been instrumental in shaping our long-term strategy and bringing it to life through strategic partnerships and investments. Deepak brings to the role deep expertise in mergers and acquisitions, a likely component of our beyond nicotine strategy. He is both a visionary and a pragmatist, and I have high expectations for—and full confidence in—what he will accomplish in his new role.”
Prior to joining PMI, Mishra was managing director of portfolio operations at Centerbridge Partners, a private equity firm, where, from 2014, he led commercial, operational and digital transformations in investments in consumer services, renewable energy and distribution sectors.
Deepak brings to the role deep expertise in mergers and acquisitions, a likely component of our beyond nicotine strategy.
Before Centerbridge, Mishra was a partner at McKinsey & Company in London. At McKinsey & Company, he was a member of the consumer goods, retail and operations leadership teams from 2001 to 2014 and supported clients in the fast-moving consumer goods, retail and private equity industries on commercial and operational transformations.
Mishra started his career as a marketing professional with Procter & Gamble in 1996 and then spent four years at Accenture’s strategy practice in India and Eastern Europe. He holds an undergraduate degree in computer science from BITS Pilani in India and a Master of Business Administration degree from the Indian Institute of Management Lucknow.
Martin King, who has been with PMI since 2003, most recently as CEO of PMI America and previously as chief financial officer, president of its Asia region, president of its Latin America and Canada region, and senior vice president of operations, will retire on Aug. 31, 2021. Prior to joining PMI, King served in various positions within Philip Morris USA between 1991 and 2003.
“We are deeply grateful to Martin King for his many years and many accomplishments at PMI and for the impact he has had in the U.S. in the year he spent getting the market ready for the push we plan to make in bringing both reduced-risk and, eventually, beyond nicotine products to consumers,” said Olczak. “Martin is an outstanding business leader and colleague, and we wish him the very best in the years to come.”
From July 1, PMI’s strategy and program delivery function, which formerly reported to Mishra, will report to Chief Financial Officer Emmanuel Babeau. Ankur Modi will assume the position of global head of strategy and program delivery. On Aug. 1, Reginaldo Dobrowolski will take on the role of vice president and controller, and Andreas Kurali will become deputy chief financial officer of finance transformation.