Philip Morris Names New CFO

Emmanuel Babeau has joined Philip Morris International as chief financial officer, replacing Martin King.

King is taking on the role of CEO of PMI America, a new position for the company. Reporting to global CEO André Calantzopoulos, King will coordinate both international services based in the U.S. and all U.S. representation.

This includes PMI’s relationship with Altria, which is commercializing the company’s IQOS line of tobacco heating products in the U.S. market.

Most recently deputy CEO at Schneider Electric, where he spent 10 years, Babeau helped transform that company’s business model from hardware products for electrical distribution into digital technologies driving the energy transition and industry 4.0.

He was also previously group CFO at Pernod Ricard.

Calantzopoulos cited PMI’s transition away from cigarettes to its smoke-free products in announcing the news. “We are thrilled that Emmanuel will be joining us to further accelerate the PMI transformation towards a smoke-free future,” he said. “He has an enviable track record of challenging the status quo and growing businesses under the most complex circumstances.”

Babeau will join PMI on May 1. He will also report to Calantzopoulos.

“PMI is precisely the challenge I was looking for: a global leader in its industry with a commitment to fundamental change—and one that is prompted not only by business strategy but also by a desire to operate more sustainably and in the interest of public health," said Babeau. "I am excited about working with André Calantzopoulos, Jacek Olczak, and the rest of the leadership team to achieve PMI’s business objectives.”

Philip Morris International is No. 15 on the Top 100 Consumer Goods Companies of 2019.