Philip Morris International Inc. announced a new regional structure and related senior management changes to enable continued growth as a multicategory leader internationally and advance its rapid transition toward a smoke-free future. By the end of January 2023, PMI will rearrange its operations in four regions, down from the current six, under the leadership of the following members of senior management: Paul Riley, currently President, East Asia Australia Region, will be appointed President, East Asia, Australia, and PMI Duty Free Region; Frederic de Wilde, currently President, European Union Region, will be appointed President, South and Southeast Asia (SSEA), Commonwealth of Independent States (CIS), Middle East and Africa (MEA) Region; Massimo Andolina, currently Senior Vice President, Operations, will be appointed President, Europe Region; and Deepak Mishra, who will continue as President, Americas Region. Drago Azinovic, currently President, Middle East and Africa and PMI Duty Free Region, will leave the organization after a transition period.

In addition, the following appointments will also take effect: Marco Mariotti, currently President, Eastern Europe Region, will be appointed President, CIS, Central Asia Israel, reporting into Frederic de Wilde; Stacey Kennedy, currently President, South and Southeast Asia Region, will be appointed Chief Executive Officer of PMI's U.S. business, reporting to Deepak Mishra; and Scott Coutts, currently Vice President, Global Manufacturing, will be appointed Senior Vice President, Operations, succeeding Massimo Andolina and reporting into Jacek Olczak. The new regional structure better aligns with the business strategy in the approximately 180 markets where PMI's products are sold. It is designed to accelerate smoke-free product growth in markets where IQOS already holds double-digit market shares, while also driving the transition from cigarettes to smoke-free products in untapped markets-including as of April 2024, the U.S. Furthermore, the new regional structure will further support PMI's efforts to broaden access to smoke-free products worldwide for those adults who would otherwise continue to smoke, including in low and middle income markets, which the company aspires to account for at least half of the markets where its smoke-free products will be available by 2025.

Each region will comprise individual markets, as well as clusters of markets, and will provide opportunities to accelerate career development within PMI's diverse talent pipeline.