The partnership is a 50-50 business combination between PMI and FTC through PMFTC Inc., the leading tobacco company in the Philippines. In accepting the appointment, Olczak committed to accelerating PMI’s smoke-free transformation, which was announced in 2016. “I am humbled and excited to lead PMI as we accelerate our transformation into a smoke-free company,” Olczak said. ADVERTISEMENT“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. He has been a vital driver of PMI’s smoke-free transformation, which moved into its commercialization phase with the launch of IQOS in Nagoya, Japan, in 2014.

Source: Philippine Daily Inquirer May 08, 2021 17:37 UTC