Transforming Philip Morris International: A Journey from Cigarettes to Smoke-Free Products

As the CEO of Philip Morris International, I've dedicated my career to transforming the company from a traditional cigarette maker to a leader in smoke-free products, driven by a relentless pursuit of innovation and a passion for creating a healthier future.

1. Jacek Olczak is the Chief Executive Officer of Philip Morris International (PMI).
2. PMI was previously known as a global leader in the cigarette category but has since aimed to transform its purpose to "unsmoke the world" by replacing cigarettes with smoke-free products.
3. Olczak learned English due to his parents' insistence, despite growing up in Poland behind the Iron Curtain where access to foreign media was limited.
4. He joined PMI more than 30 years ago in the finance department and has held various roles within the company since then.
5. Olczak started smoking before joining PMI and smoked for over 20 years.
6. His predecessors at PMI began investing in smoke-free products, even when the science and technology were not yet available, with the goal of reducing harm caused by cigarettes.
7. Skepticism surrounding better alternatives to cigarettes has existed since the 1970s, 80s, and 90s, but PMI's investments in research, development, and manufacturing since 2008 have accelerated pro
8. The company has invested over $10 billion since 2008 in smoke-free products, with 99% of R&D resources dedicated to this area.
9. PMI's ambition is to phase out cigarettes globally by encouraging those who don't smoke not to start, urging smokers to quit, and promoting the use of smoke-free products for those who don't quit s
10. Smoke-free products like IQOS have shown clinical improvements in cardiovascular diseases and respiratory health, with early signs pointing to a significant reduction in cancer risk as well.
11. PMI has shifted its focus towards science and research since Olczak joined the company, significantly increasing its investment in these areas.
12. The company received authorization for Modified Risk Tobacco Product (MRTP) with reduced exposure claims from the US FDA's Tobacco Products Scientific Advisory Committee in 2020.
13. PMI aims to replace cigarettes with smoke-free alternatives and build a new line of business in healthcare and wellness, utilizing their team of over 1,500 scientists.
14. Olczak encourages people to judge PMI based on its actions and progress rather than its past as a tobacco company.
15. The company has made significant strides in the smoke-free journey, converting more than 20 million smokers and generating $10 billion in revenue from smoke-free products.
16. Olczak emphasizes the importance of focusing on current successes and remaining committed to the goal of reducing smoking rates.
17. He encourages people to look objectively at PMI's progress, which benefits not only smokers but also their families and communities.
18. There are still more than a billion smokers worldwide, providing ample opportunity for PMI to continue converting smokers to smoke-free products.
19. Olczak advises entrepreneurs to take calculated risks, act on their beliefs, and learn from consumers as they improve their products and services.
20. He believes that inaction poses a higher risk of failure than attempting to innovate and address major opportunities.
21. PMI's objective is to stay focused on its current success and the immediate opportunity to reduce smoking rates through smoke-free products.
22. Olczak encourages people to celebrate progress towards a smoke-free world, impacting not only smokers but also their families and communities.
23. He is committed to ensuring PMI remains focused on this opportunity, as it represents both a significant business prospect and a societal benefit.
24. Olczak advises entrepreneurs to take action if they believe in something, do their homework, and learn from consumers as they refine their products and services.

Source: EO via YouTube

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