Former Philip Morris’ CEO André Calantzopoulos said on 29 April that “We are doing all this work and will determine one day what avenues to pursue, but our priority is what we’re doing with our smoke-free products, and that’s where I would stay on cannabis.” referring to his company’s analyses performed on marijuana toxicity and differential efficacy in between medicinal and consumer cannabis performed at youth of the relevant market.
Mr. Calantzopoulos has been elected and was appointed as chairman of the board of directors and Jacek Olczak took his place on the 5-th of May. Mr. Olczak stated, “I am humbled and excited to lead PMI as we accelerate our transformation into a smoke-free company. PMI is an industry leader in scientific innovation, and our ambition is that more than half of our net revenues will come from smoke-free products in 2025. Our evolving portfolio will drive our long-term future. We will lean into our scientific research and expertise, using our collective skills and imagination to innovate beyond our existing portfolio and explore new areas of business development.” during the annual shareholders meeting.
Mr. Calantzopoulos stated upon leaving his leading position that “Jacek is ideally placed to deliver PMI’s smoke-free vision in his new role as CEO. His passion for the company and our employees underpins his drive for results, as does his deep knowledge of our products, systems, values, and investors. I believe he is the ideal leader to ensure our business’s continued growth and deliver shareholder value. I look forward to continuing to work with him in my new capacity as Executive Chairman of the Board”.