Philip Morris appoints Massimo Andolina as Chief Financial Officer

Philip Morris International has announced the appointment of Massimo Andolina as Chief Financial Officer, effective on August 1, succeeding Emmanuel Babeau. Mr. Babeau, who has held the position since May 2020, will remain with the group until March 31, 2027, serving as a strategic advisor to CEO Jacek Olczak. This transition comes as the group continues its pivot toward smoke-free products amid intensifying competition.

Massimo Andolina joined Philip Morris in 2008 as Director of Global Operations and most recently served as President of the Europe Region. The group is seeking to bolster its position in tobacco alternatives, particularly in response to competition from British American Tobacco's Velo nicotine pouches. Philip Morris is betting heavily on smoke-free products to drive future growth and gradually reduce its reliance on traditional cigarettes.

Emmanuel Babeau, a former executive at Pernod Ricard and Schneider Electric, notably oversaw the 2022 acquisition of Swedish manufacturer Swedish Match, a pivotal transaction in the development of the group's smoke-free business. Last April, Philip Morris lowered its annual profit guidance due to regulatory uncertainties surrounding Zyn nicotine pouches and heightened competition in the alternative tobacco market.