Philip Morris Appoints Massimo Andolina as Chief Financial Officer
Executive Leadership Changes and Strategic Shifts at Philip Morris International
Appointment of Massimo Andolina as CFO
May 20 (Reuters) - Philip Morris International on Wednesday named insider Massimo Andolina as its chief financial officer, effective August 1, succeeding Emmanuel Babeau.
Emmanuel Babeau’s Transition and Continued Role
Babeau, appointed as the CFO in May 2020, will remain with the company until March 31, 2027, as a strategic advisor to CEO Jacek Olczak.
Strategic Advisor Role
• The appointment comes as the company accelerates its shift from cigarettes to smoke-free products, where it faces growing competition from rivals like British American Tobacco's Velo nicotine pouches.
Background of Massimo Andolina
Career at Philip Morris
• Andolina, who joined the company in 2008 as the director of global operations, most recently served as president of the Europe region.
Emmanuel Babeau’s Achievements
Previous Experience
• Babeau, who previously worked at Pernod Ricard and spent over a decade at Schneider Electric, oversaw the 2022 acquisition of rival Swedish Match during his tenure at Philip Morris.
Recent Company Developments
Financial Outlook and Market Challenges
• In April, the company cut its annual profit forecast amid regulatory uncertainty around its Zyn nicotine pouches and intensifying competition in tobacco products.
Reporting and Editing
(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Vijay Kishore)
