Philip Morris International Inc. (PMI) further detailed its new organizational structure aimed at accelerating its transition to a smoke-free company. The changes establish two primary business units, PMI International and PMI U.S., along with its wellness unit, Aspeya, which will all report to CEO Jacek Olczak. The current four geographic segments will be replaced with three reportable segments: International Smoke-Free, International Combustibles, and U.S., with financial reporting under the new structure starting Q1 2026.
First announced with its third-quarter financials, the changes will become effective January 1, 2026. Frederic de Wilde will serve as CEO of PMI International, and Stacey Kennedy will continue as CEO of PMI U.S.
The restructuring reflects PMI’s focus on expanding smoke-free alternatives—which now account for 41% of the company’s net revenues—while maintaining growth in its combustibles business and exploring wellness and healthcare opportunities.