PMI Holds Annual Shareholders Meeting

Philip Morris International held its 2024 annual meeting of shareholders on May 8. Andre Calantzopoulos, executive chairman of the board, addressed shareholders and answered questions. CEO Jacek Olczak gave a business presentation commenting on PMI’s 2023 performance and progress in its transformation to a smoke-free business.

“Our strategy to become a smoke-free company has enabled us to build and sustain strong momentum, resulting in smoke-free products reaching nearly 40 percent of our total net revenues and over 40 percent of our gross profit in the fourth quarter of 2023,” said Olczak in a statement.

“As a global smoke-free champion with leading brands IQOS and Zyn, we are well positioned to further accelerate our transformation in the years to come, to the benefit of the company, our shareholders, other stakeholders and public health.”

Approximately 80 percent of the shares entitled to vote were represented at the meeting in person or by proxy. The shareholders elected 12 nominees for director; approved, on an advisory basis, the compensation of named executive officers; and ratified the selection of PricewaterhouseCoopers as independent auditors.

An archived copy of the webcast of the meeting is available at www.virtualshareholdermeeting.com/PM2024.