Philip Morris International Appoints New General Counsel
June 11 2020 - 8:00AM
Business Wire
Philip Morris International Inc. (PMI) (NYSE: PM) announced
today that Suzanne Rich Folsom has been appointed Senior Vice
President and General Counsel, leading Legal, Ethics &
Compliance, effective July 1, 2020. She succeeds Marc Firestone,
who will retire later this year. Since January 2018, Mr. Firestone
has held a dual role at PMI: President, External Affairs and
General Counsel. He will continue to lead the company’s External
Affairs function until a successor is appointed.
Suzanne Rich Folsom is a results-oriented business leader with
decades of broad international experience and a track record of
successfully driving transformation within public and private
corporations during periods of heightened regulatory and public
scrutiny. She is highly regarded for her ability to solve complex
business challenges and has been recognized for her integrity,
innovative thinking, consensus-building, and crisis management
skills. She is an internationally recognized corporate governance
expert who has created and implemented award-winning legal,
regulatory, and compliance programs, driving stability and
enhancing corporate reputations.
Among her many awards, Ms. Folsom has been recognized by the
National Law Journal as one of the Top 50 General Counsels and as a
Cyber Trailblazer, and was recently awarded the U.K.-based Women in
Compliance 2020 Lifetime Achievement Award for Contribution to the
Compliance Community. She comes to PMI from Manatt, Phelps &
Phillips, LLP, where she co-chaired the Investigations, Compliance,
and Strategic Response Group and was a member of the Government
& Regulatory and Cyber & Privacy groups. Before that, she
was the General Counsel, Chief Compliance Officer, and SVP,
Government Affairs and Global Public Policy at United States Steel
Corporation. Previously, she held leadership positions with a
number of global entities, including AIG, ACADEMI, and the World
Bank, and served in key roles for several Heads of State and their
families. Ms. Folsom holds degrees from Georgetown University Law
Center and Duke University.
In her new position based in Lausanne, Ms. Folsom will report to
PMI CEO André Calantzopoulos. Leading the Legal, Ethics &
Compliance teams, she will be an ambassador for the company across
legal and regulatory environments; influence conversations aimed at
creating a climate of change for better consumer choice as the
company drives forward with its smoke-free transition; serve as
counselor to PMI’s executive leadership team, board of directors,
and other leaders; and build support for appropriate,
risk-proportionate regulatory frameworks, among other
functions.
“Suzanne Rich Folsom comes to us with a reputation as one of the
most highly regarded and experienced general counsels and
compliance and corporate governance specialists, having operated in
very complex business environments,” said André Calantzopoulos.
“She is a champion of inclusion and diversity who has established a
reputation for diligence, courage, integrity, and an unwavering
commitment to ethical conduct. Her vast knowledge and ability to
inspire the best in the people with whom she interacts will be a
tremendous asset to PMI as we continue our corporate transformation
and progress toward a better, smoke-free future. We are delighted
to have her on our team.”
Mr. Calantzopoulos added: “Together with the board and our
senior leadership, I extend enormous gratitude to Marc Firestone
for all he has done for PMI. Aside from several years when he
served as EVP and General Counsel for Kraft Foods after its
spin-off, Marc has been part of the Philip Morris community since
1988. He has been a selfless and highly valued source of advice,
inspiration, and strategic decision-making and has been integral to
our transformation into a science- and technology-based company
that is providing a better way forward for tobacco harm reduction.
A diplomatic statesman beyond compare, Marc has been the external
face of PMI, serving as the embodiment of our ethical values and
liaising with governments and regulators to inject common sense
into the debate around tobacco. We will forever be a better company
because of Marc’s influence, and we wish him all the best in his
retirement.”
In addition to his work at PMI and Kraft Foods, Mr. Firestone is
cofounder and chairman of the Institute for Inclusion in the Legal
Profession; a frequent speaker on international antitrust law,
diversity, and in-house legal practice; and a recipient of numerous
awards, including the Director’s Roundtable Distinguished General
Counsel.
Philip Morris International: Delivering a Smoke-Free
Future
Philip Morris International (PMI) is leading a transformation in
the tobacco industry to create a smoke-free future and ultimately
replace cigarettes with smoke-free products to the benefit of
adults who would otherwise continue to smoke, society, the company,
and its shareholders. PMI is a leading international tobacco
company engaged in the manufacture and sale of cigarettes, as well
as smoke-free products and associated electronic devices and
accessories, and other nicotine-containing products in markets
outside the United States. In addition, PMI ships a version of its
IQOS Platform 1 device and its consumables authorized by the U.S.
Food and Drug Administration to Altria Group, Inc. for sale in the
United States under license. PMI is building a future on a new
category of smoke-free products that, while not risk-free, are a
much better choice than continuing to smoke. Through
multidisciplinary capabilities in product development,
state-of-the-art facilities, and scientific substantiation, PMI
aims to ensure that its smoke-free products meet adult consumer
preferences and rigorous regulatory requirements. PMI’s smoke-free
IQOS product portfolio includes heat-not-burn and
nicotine-containing vapor products. As of March 31, 2020, PMI
estimates that approximately 10.6 million adult smokers around the
world have already stopped smoking and switched to PMI’s
heat-not-burn product, available for sale in 53 markets in key
cities or nationwide under the IQOS brand. For more information,
please visit www.pmi.com and www.pmiscience.com.
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Philip Morris International David Fraser Philip Morris
International Media Office T. +41 79 843 8603 E. David.Fraser@pmi.com
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