Category: People

  • Altria CEO contracts coronavirus

    Altria CEO contracts coronavirus

    Altria CEO Howard Willard has tested positive for the coronavirus, according to Reuters.

    Willard is taking temporary medical leave, and William Gifford Jr., Altria’s chief financial officer, is taking over in his absence.

    “Howard has been out of the office for several days, and we have notified those who were in close contact with Howard and asked them to self-quarantine for 14 days,” a staff memo said.

  • PMI Names Diversity Officer

    PMI Names Diversity Officer

    Silke Muenster has been named Philip Morris International’s (PMI) first chief diversity officer. Transitioning from her current role as vice president of market research at PMI, Muenster’s new position became effective March 15, 2020, and is based in the company’s operating center in Lausanne, Switzerland.

    The company aims to increase the representation of women in management roles across the organization to 40 percent by 2022 based on evidence that shows that companies with diversity in the workplace achieve better results and have more satisfied employees at every level. Right now, women make up 36 percent of management roles at PMI—an increase of 6 percentage points since year end 2014.

    Muenster joined PMI in 2011. She was director of market and consumer research until 2012 when she became vice president of market research.

    Prior to joining PMI, Muenster spent 12 years in leading research roles at the Coca-Cola Company, four years at Apollinaris & Schweppes and four years at Marbert Kosmetik. She began her career at Research International after earning her degree in mathematics from Ruhr University Bochum in Germany.

  • Expanding the Team

    Expanding the Team

    Lisa Parks will become 22nd Century’s vice president of acquisitions, and Mei Kuo will become the new director of communications and investor relations.

    In a newly created role, Parks will drive 22nd Century Group’s strategic partnership activities focused on creating a synergistic portfolio of operating companies to commercialize the company’s proprietary hemp/cannabis plants and intellectual property in development. Prior to joining 22nd Century Group, Parks served as managing director at Envest Capital Partners. Earlier in her career, Parks served as the director of corporate finance at Landmark Media Enterprises. She holds a Master of Business Administration degree from the University of Virginia’s Darden Graduate School and a Bachelor of Business Administration degree from William and Mary.

    Mei Kuo will lead 22nd Century Group’s communications and investor relations function and serve as the primary liaison between the company, its external stakeholders and the investment community. Kuo previously worked for Shake Shack, an American fast casual restaurant chain, where she established and led the investor relations function. Kuo has held various investor relations and corporate finance positions of increasing responsibilities at other public companies, including Integra LifeSciences and Assurant Inc. Kuo received her Bachelor of Arts degree in psychology from Rutgers. Kuo serves as president of the National Investor Relations Institute New York Chapter’s NextGen Committee.

  • Emmanuel Babeau to Guide PMI Shift

    Emmanuel Babeau to Guide PMI Shift

    Philip Morris International has appointed Emmanuel Babeau as its chief financial officer, replacing Martin King. King will be taking on a new role as CEO, PMI America, a newly created function. Reporting to global CEO Andre Calantzopoulos, King will coordinate both international services based in the U.S. and all U.S. representation, including PMI’s relationship with Altria, which is commercializing IQOS in the American market.

    Babeau will join PMI on May 1, 2020, from Schneider Electric, where he served most recently as deputy CEO in charge of finance and legal affairs. A native of France and graduate of ESCP Business School, he has spent nearly three decades leading fundamental change across industries.

    “PMI is undergoing a period of intensive change as we transition away from cigarettes to our science-based smoke-free products—products that are much better alternatives than continued cigarette smoking,” said Calantzopoulos. “We are thrilled that Emmanuel will be joining us to further accelerate the PMI transformation towards a smoke-free future. He has an enviable track record of challenging the status quo and growing businesses under the most complex circumstances.”

    During his 10 years at Schneider Electric, Babeau helped to grow the company from €18 billion market cap to approximately €60 billion ($66.73 billion), while transforming the business model from hardware products for electrical distribution into digital technologies driving the energy transition and industry 4.0. In 2019, Harvard Business Review cited Schneider Electric as one of the top 15 business transformations of the past decade. The company now has €27 billion in revenues and is a leader in digital solutions for efficiency and sustainability.

    “PMI is precisely the challenge I was looking for: a global leader in its industry with a commitment to fundamental change—and one that is prompted not only by business strategy but also by a desire to operate more sustainably and in the interest of public health,” said Babeau. “I am excited about working with André Calantzopoulos, Jacek Olczak and the rest of the leadership team to achieve PMI’s business objectives.”

  • CEO Denied Bonus After Juul Setback

    CEO Denied Bonus After Juul Setback

    Howard Willard, CEO of Altria, will not receive an annual incentive award as a result of the company’s declining investment in Juul Labs.

    “The compensation committee considered the significant impact that Altria’s 2018 minority investment in Juul Labs Inc. has had on shareholder value. As a result … Willard should not receive an award under the Annual Incentive Plan for 2019,” the company stated.

    Willard’s base salary in 2020 will not increase from $1.25 million, according to Altria. His 2018 annual incentive was $2.25 million.

    Altria’s stake in Juul Labs was valued at $4.2 billion at the end of 2019, down from $12.8 billion in 2018.

    According to Reuters, U.S. regulators have opened a probe into Altria’s investment.

  • New GM JT Philippines

    New GM JT Philippines

    Japan Tobacco International (JTI) has appointed John Freda as general manager of its operations in the Philippines.

    Freda was previously vice president of marketing and sales for JTI Asia-Pacific as well as head of consumer and trade marketing in Germany, general manager in Ireland, Hungary and Slovenia, and he held other senior sales and marketing roles within JTI. He previously worked with the U.K. tobacco company Gallaher.

  • Imperial Brands Appoints a New CEO

    Imperial Brands Appoints a New CEO

    Stefan Bomhard (Photo: Imperial Brands)

    Stefan Bomhard will join Imperial Brands’ board as chief executive officer effective at a date to be announced.

    “After a thorough search process, which attracted strong, high-caliber interest, the board is delighted to appoint Stefan as chief executive of Imperial Brands,” said Therese Esperdy, chair of the board. “Stefan’s initial priorities will be to strengthen performance and enhance shareholder value.”

    “I’m delighted to be joining Imperial as the next chief executive,” said Bomhard. “I believe the business has a great future, and I’m looking forward to working with the group’s employees to maximize the opportunities that lie ahead and build a stronger, more sustainable business.”

    Bomhard was previously the chief executive of Inchcape, the president of Bacardi’s European region, chief commercial officer of Cadbury, chief operating officer of Unilever Food Solutions Europe, and he held senior management and sales roles at Diageo and Proctor & Gamble. Bomhard holds a doctorate in marketing and is a nonexecutive director on the board of Compass Group.

    Following Bomhard’s appointment, Alison Cooper has stepped down as chief executive and board director effective immediately. Matthew Phillips has stepped down as chief development officer and board director effective immediately. Dominic Brisby, currently the divisional director for the Americas, Africa, Asia and Australasia, and Joerg Biebernick, the divisional director for Europe, will assume the roles of joint interim chief executive officers, reporting directly to Therese Esperdy until Bomhard assumes the CEO position.

  • New MD at JTI Germany

    New MD at JTI Germany

    Peter Kilburg took over as managing director of Japan Tobacco International (JTI) in Germany on March 1, 2020.

    Kilburg succeeds Jon H. Moore, who held the role as interim since April 2019. Moore will work at JTI’s Geneva headquarters in the global manufacturing performance improvement sector.

    Kilburg is a mechanical engineer and business economist. His career at JTI began at the company’s Trier plant in 2001 in the finance department, and he has held various positions within the global supply chain. He worked as director of purchasing, logistics and production planning in the Trier plant and as CFO of JTI in Germany.

  • No incentive for Willard

    No incentive for Willard

    Howard Willard, CEO of Altria, will not receive an annual incentive award as a result of the company’s declining investment in Juul Labs.

    “The compensation committee considered the significant impact that Altria’s 2018 minority investment in Juul Labs Inc. has had on shareholder value. As a result … Willard should not receive an award under the Annual Incentive Plan for 2019,” the company stated.

    Willard’s base salary in 2020 will not increase from $1.25 million, according to Altria. His 2018 annual incentive was $2.25 million.

    Altria’s stake in Juul Labs was valued at $4.2 billion at the end of 2019, down from $12.8 billion in 2018.

    According to Reuters, U.S. regulators have opened a probe into Altria’s investment.