Philip Morris Reorganization Elevates Deepak Mishra to President of Americas

Deepak Mishra has been promoted to president of the Americas region at Philip Morris (PMI), effective July 1.  

Mishra, previously chief strategy officer, will oversee the United States, Canada and Latin America businesses, marking a new regional structure for the company.

Martin King, who has been serving as CEO of PMI America, will retire on Aug. 31.

The organizational change is designed to let the No. 17 consumer goods company focus on three areas:

• Strengthening its leadership in Latin America and Canada as it accelerates toward a smoke-free future.
• Deepening efforts with partners to commercialize reduced risk products in the U.S.
• Building a vital launchpad for the company’s “beyond nicotine” strategy in the U.S., in coordination with PMI’s life sciences group, through expanded partnerships and commercial deployment.

The following execs will report to Mishra: Mario Masseroli, president, Latin America; Peter Luongo, managing director of Rothmans, Benson & Hedges (Canada); and Olek Grzesiak, VP, commercial for reduced risk products in the United States.

“In less than three years with PMI, [Mishra] has been instrumental in shaping our long-term strategy and bringing it to life through strategic partnerships and investments,” said Jacek Olczak, PMI CEO, in a statement. “Deepak brings to the role deep expertise in mergers and acquisitions, a likely component of our beyond nicotine strategy. He is both a visionary and a pragmatist, and I have high expectations for — and full confidence in — what he will accomplish in his new role.”

Prior to joining PMI, Mishra was managing director, portfolio operations, at private equity firm Centerbridge Partners LP, where he led commercial, operational and digital transformations in investments in consumer services, renewable energy and distribution sectors. He was also a partner at McKinsey & Company with clients in the consumer goods, retail and private equity industries.

Mishra started his career in marketing at Procter & Gamble.