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Philip Morris International (PMI) announces the relocation of its corporate headquarters to Stamford, Connecticut, with an expected opening in summer 2022. This move is poised to create approximately 200 jobs and contribute around $50 million to the state's economy. The 71,484 square foot facility will serve as a hub for PMI’s Americas region and amplify its commitment to a smoke-free future. PMI aims to transition to a majority smoke-free product portfolio by the end of 2025, with nearly 30% of net revenues coming from non-combustible products as of Q3 2021.
Philip Morris International (PMI) has nominated Dr. Juan José Daboub and Mr. Shlomo Yanai to its Board of Directors, strengthening its leadership as it transitions to a smoke-free future. Jacek Olczak has also been nominated as CEO, effective immediately after the Annual Shareholders Meeting on May 5. Dr. Daboub brings extensive experience in governance and climate adaptation, while Mr. Yanai offers a solid background in pharmaceutical management, having previously led Teva Pharmaceutical Industries. These appointments are part of PMI's strategic plan to innovate smoke-free products.
The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.20 per common share, payable on April 9, 2021, to shareholders of record as of March 22, 2021. The ex-dividend date is set for March 19, 2021. PMI continues its transformation towards a smoke-free future, aiming to replace traditional cigarettes with smoke-free products. As of December 31, 2020, approximately 12.7 million adults have switched to IQOS. For more details, visit www.pmi.com/dividend.
Philip Morris International (NYSE:PM) presented its growth strategy in a virtual investor meeting, reaffirming its 2021 diluted EPS forecast between $5.90 and $6.00, a projected 14% to 16% increase from 2020. The company set ambitious targets for 2021-2023, aiming for over 5% organic growth in net revenue and over 9% in adjusted diluted EPS. Upcoming product launches include IQOS ILUMA and IQOS VEEV. PMI expects smoke-free products to surpass 50% of net revenues by 2025 and aims for $1 billion in revenues from beyond nicotine products by the same year.
Philip Morris International (PMI) has appointed Bonin Bough as a new member of its Board of Directors, effective immediately. Bough, aged 43, is a well-regarded executive with experience in growth and marketing at notable companies like Unilever and Mondelez International. Interim Chairman Lucio Noto welcomed Bough, emphasizing the importance of digital expertise in PMI's mission to transition to smoke-free products. PMI is committed to replacing cigarettes with smoke-free alternatives and has made significant strides, with approximately 12.7 million adults globally having switched to its IQOS device.
Philip Morris International Inc. (NYSE:PM) reported its 2020 fourth-quarter and full-year results, showcasing resilience amid the COVID-19 pandemic. Full-year reported diluted EPS rose 11.9% to $5.16, while adjusted diluted EPS declined slightly by 0.4% to $5.17. Total shipments dropped by 8.1%, yet heated tobacco units surged by 27.6%. The company expanded its IQOS market share, ending 2020 with an estimated 17.6 million users. PMI forecasts mid-single-digit organic net revenue growth for 2021, projecting adjusted diluted EPS growth between 9% to 11%. The quarterly dividend was increased by 2.6% to $4.80.
Philip Morris International (PMI) will host a live video webcast for its 2021 Investor Day on February 10, 2021, from 8:30 a.m. to 1:30 p.m. ET. Senior management will present and engage in a Q&A session, accessible via www.pmi.com/2021InvestorDay. An archive of the session will be available until March 11, 2021, at 5:00 p.m. ET. PMI is focused on creating a smoke-free future, encouraging adult smokers to transition to smoke-free products, including the IQOS platform, which has already helped approximately 11.7 million smokers switch.
Philip Morris International Inc. (PMI) has signed a memorandum of understanding with the U.S. Department of Homeland Security's National Intellectual Property Rights Coordination Center. This partnership aims to combat illicit tobacco trade and support investigations into intellectual property rights violations. PMI's head of illicit trade prevention emphasized the importance of this cooperation to disrupt criminal organizations profiting from this trade. The agreement builds on previous initiatives to enhance national security and protect consumers from illicit products.
Philip Morris International (NYSE: PM) will host a live audio webcast on February 4, 2021, at 10:30 a.m. ET to discuss its 2020 Fourth-Quarter and Full-Year results. The results will be disclosed at 8:00 a.m. ET the same day. CFO Emmanuel Babeau will present the financial outcomes and the 2021 outlook, with Q&A from the CEO and COO. The event will be accessible in listen-only mode, and an archived version will be available until March 5, 2021. PMI focuses on a smoke-free future, with 11.7 million adult smokers having switched to its IQOS product.
