Philip Morris International Inc. (PMI)

Philip Morris International Inc. (PMI) is a leading international tobacco company undergoing a significant transformation to deliver a smoke-free future. While historically known for combustible tobacco products, the company's mission is to replace cigarettes with scientifically substantiated, less harmful smoke-free alternatives. PMI's corporate headquarters are registered in Stamford, Connecticut, U.S., with its operational center located in Lausanne, Switzerland.

The company's product portfolio includes both traditional cigarettes, such as its flagship Marlboro brand, and a growing range of smoke-free products. Key smoke-free offerings include IQOS, a heated tobacco system that surpassed Marlboro in net revenue in late 2023, and ZYN nicotine pouches, a leading brand in the U.S.. PMI's products are sold in over 180 countries, with smoke-free products available in 108 markets as of Q1 2026.

Under the leadership of CEO Jacek Olczak and Chairman André Calantzopoulos, PMI is actively shifting its business focus. The company has invested over $16 billion since 2008 in the development and commercialization of smoke-free products, which accounted for 43% of its total global net revenues in Q1 2026. PMI aims to increase this figure to over two-thirds by 2030, with the ultimate goal of phasing out cigarettes completely. Recent strategic moves include the 2022 acquisition of Swedish Match, bolstering its smoke-free portfolio with brands like ZYN, and the U.S. FDA reauthorization of IQOS as a Modified Risk Tobacco Product in April 2026.