Philip Morris International Inc. (NYSE / Euronext Paris: PM) held its 2017 Annual Meeting of Shareholders today. Louis C. Camilleri, Chairman of the Board, addressed shareholders and answered questions. André Calantzopoulos, Chief Executive Officer, gave the business presentation, which included an overview of PMI's strong momentum, the exciting progress of its reduced-risk product, IQOS, and its commitment to returning cash to shareholders.
"2016 was a pivotal year for PMI, reflecting exciting progress in our transformation to a smoke-free future. While our cigarette portfolio continued to drive our income growth, we began to see clear signs of the enormous potential for our reduced-risk products portfolio," said Mr. Calantzopoulos.
"We have started building PMI's future on breakthrough smoke-free products that we believe are a much better choice for adult smokers than cigarettes. We have set a bold new course for the company, and are leading a full-scale effort to ensure that smoke-free products replace cigarettes to the benefit of adult smokers, society, our company and our shareholders. Today, over two million adult consumers have already stopped smoking and switched to our heated tobacco alternative, IQOS."
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