According to a report from the Canadian media outlet Ottawa Sun on November 14th, Jacek Olczak, the CEO of Philip Morris International (PMI), attended the 2023 CEO Investor Forum organized by Chief Executives for Corporate Purpose (CECP).
On the forum, PMI presented its sustainable development initiatives, strategies, and progress, emphasizing its commitment to a smoke-free future and discussing its efforts in developing commercialized smoke-free products with the aim of replacing traditional cigarettes.
In addition, PMI will emphasize its low-carbon transformation plan to address the concerns of the CEO Investor Forum regarding climate action.
At present, PMI is investing in a smoke-free future, aiming to diversify its portfolio beyond tobacco and nicotine. Its smoke-free products, including IQOS, accounted for 36.2% of net revenue in the third quarter of 2023. It is estimated that by September 2023, approximately 19.7 million adults worldwide will have switched to IQOS.
In addition, PMI will expand into the health and wellness field through its partnership with Vectura Fertin Pharma, in order to achieve a seamless health experience.