Philip Morris International held its 2022 Annual Shareholders’ Meeting on May 4
Philip Morris International held its 2022 Annual Shareholders’ Meeting on May 4. Executive Chairman André Calantzopoulos addressed shareholders and answered questions. CEO Jacek Olczak gave a business presentation, including an overview of PMI’s financial
Philip Morris International held its 2022 Annual Shareholders’ Meeting on May 4. Board Executive Chairman André Calantzopoulos addressed shareholders and answered questions. CEO Jacek Olczak provided a business overview, including a summary of PMI's financial performance and efforts to support employees affected by the war in Ukraine, as well as the company's latest progress in smoke-free transformation and health and healthcare investments.
“Given the war in Ukraine, the past few months have been an extremely challenging time for many in the PMI family. Our primary concern is for our people and their families, and we are doing everything we can to help them,” Olczak stated.
“Despite this tragic situation and the related impacts on our business in the region and beyond, our business outlook outside of Russia and Ukraine remains strong, and our smoke-free ambitions remain unchanged. After an outstanding performance in 2021, with strong potential momentum and a renewed acceleration in IQOS user growth, we are off to a strong start this year.”
“We continue to prioritize shareholder returns, having increased dividends for 14 consecutive years since 2008. In 2021, we raised the dividend by 4.2%, with an annualized rate of $5.00 per share of common stock. Additionally, since July 2021, as part of our current three-year plan, we have repurchased approximately $1 billion of our stock.”
Approximately 81% of the eligible voting shares were present at the meeting in person or by proxy. Shareholders elected 14 director candidates; approved the compensation of designated executives on a consultative basis; approved the 2022 performance incentive plan; approved the selection of PwC as independent auditors; and voted against shareholder proposals. The final voting results will be included in the 8-K form that PMI will submit to the SEC in the coming days.
