Philip Morris International
Philip Morris International scored high on board independence, age dispersion, and nationality dispersion. Not to be confused with Philip Morris USA, a division of tobacco corporation Altria Group, PMI is the distributor of cigarette brands including Marlboro in international markets. Now heavily investing in smokeless nicotine devices, the company has taken to advocating for a ban on cigarettes within the next decade. “In 10 to 15 years, we think cigarettes can be out of the market entirely,” PMI America CEO Martin King told the Los Angeles Times in 2021. IQOS, PMI’s smoke-free tobacco product, is now available in over 60 markets. The company has a good track record in taking care of shareholders. Despite a setback from PMI’s recent decision to pull out of Russia, which accounted for 6% of PMI’s 2021 net revenue, analysts forecast a total return of 49% through 2025. Analysts have also noted that PMI’s dividend growth and $7 billion stock buyback plan, approved last June and resulting in 8.5 million repurchased stocks in the latter half of 2021, will enable significant return of capital to investors. Former PMI CEO André Calantzopoulos is the chair of the board. The roster of directors includes nine former or current CEOs including PMI’s own chief, Jacek Olczak; SoftBank Group International CEO Michel Combes; and Lucio Noto, chairman and CEO of Mobil prior to its 1999 merger with Exxon. Former Goldman Sachs general partner and managing director Jun Makihara is also on the board, along with Advent International partner and Goodyear Tire & Rubber Co. board member Werner Geissler, and Dessi Temperley, former head of investor relations at Nestlé and current board member with Coca-Cola Europacific Partners, Corbion, and Cimpress.
|Headquarters||New York City|
|No. of employees||69,600|
|Sub-sector||Food, Beverage and Tobacco|