On January 5, 2023, Frederik Paulsen informed the Executive Chairman of the Board of Directors (the Board) of Philip Morris International Inc. (the Company or "PMI") that he will not stand for re-election to the Board at the Company's 2023 Annual Meeting of Shareholders (the 2023 Annual Meeting). On January 10, 2023, Lucio A. Noto informed the Executive Chairman of the Board and the Company's Chief Executive Officer that he will also not stand for re-election to the Board at the Company's 2023 Annual Meeting. Mr. Noto will continue to serve as Lead Independent Director of the Board and as Chair of the Audit Committee, as well as a member of each of the Committees of the Board, until the 2023 Annual Meeting.
Mr. Paulsen will continue to serve as Chair of the Product Innovation & Regulatory Affairs Committee of the Board until the 2023 Annual Meeting. The resignations of Messrs. Noto and Paulsen were not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices.