Philip Morris International | Modern Fortune 25 Tray


Philip Morris International scored high for board independence, age dispersion and nationality dispersion.

Not to be confused with Philip Morris USA, a division of tobacco company Altria Group, PMI is the distributor of cigarette brands including Marlboro in international markets. Now investing heavily in smokeless nicotine devices, society began advocating for a ban on cigarettes within the next decade. “In 10 to 15 years, we think cigarettes can be completely out of the market,” said PMI America CEO Martin King. the Los Angeles Times in 2021. IQOS, PMI’s smokeless tobacco product, is now available in over 60 markets.

The company has a good track record of taking care of shareholders. Despite a setback from PMI’s recent decision to pull out of Russia, which accounted for 6% of PMI’s net revenue in 2021, analyst forecasts a total return of 49% through 2025. Analysts have also noted that PMI’s dividend growth and $7 billion share buyback plan, approved last June and resulting in 8.5 million shares repurchased in the second half of 2021, will provide a significant return of capital to investors.

Former PMI CEO André Calantzopoulos is the chairman of the board. The list of directors includes nine former or current CEOs, including PMI’s own chief, Jacek Olczak; Michel Combes, Global CEO of SoftBank Group; and Lucio Noto, chairman and CEO of Mobil before its 1999 merger with Exxon. Former Goldman Sachs managing partner and chief executive, Jun Makihara, is also a member of the board, alongside Werner Geissler, a partner at Advent International and a member of the board of directors at Goodyear Tire & Rubber Co., and Dessi Temperley, former head of investor relations at Nestlé and current member of the Coke board. -Cola Europacific Partners, Corbion and Cimpress.


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