News: Jacek Olczak takes over as new Philip Morris CEO


Jacek Olczak takes over as new Philip Morris CEO

Formerly Chief Operating Officer of the international tobacco firm, he has taken over from André Calantzopoulos in a long-planned succession.
Jacek Olczak takes over as new Philip Morris CEO

Philip Morris International has announced the appointment of Jacek Olczak as new Chief Executive Officer. He takes over from André Calantzopoulosin the successful completion of a leadership transition plan announced last December. The appointment came into effect on May 5 following the company’s 2021 Annual Shareholders Meeting.

Olczak has been with PMI since 1993, most recently as Chief Operating Officer. He was also Chief Financial Officer prior to holding that role, meaning that with the latest appointment, he has served in the three most important C-level roles consecutively. He has also held a series of senior leadership positions across Europe, including as Managing Director of PMI’s markets in Poland and Germany and as President of the European Union Region.

His appointment as CEO underscores PMI's strategic move to replace its entire product line in what the company calls a 'smoke-free transformation'—the move away from traditional tobacco products with their medical stigma, to alternatives such as e-cigarettes or heat-not-burn devices. As COO, Olczak was deeply involved in the shift: during his tenure PMI increased its net revenues from smoke-free products to 28 percent and pushed smoke-free products out to 66 different markets as of March 31, 2021.

André Calantzopoulos, recently appointed Chairman of PMI, said of Olczak's appointment: “Jacek is ideally placed to deliver PMI’s smoke-free vision in his new role as CEO. His passion for the company and our employees underpins his drive for results, as does his deep knowledge of our products, systems, values, and investors. I believe he is the ideal leader to ensure our business’s continued growth and deliver shareholder value. I look forward to continuing to work with him in my new capacity as Executive Chairman of the Board.”

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Topics: C-Suite

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