Summary
Philip Morris International Inc. (PM) filed an 8-K on May 8, 2014, detailing recent corporate governance and shareholder meeting outcomes. The most significant event announced is the planned retirement of Joachim Psotta, Vice President and Controller, effective February 28, 2015. He will be succeeded by Andreas Kurali, who currently holds the position of Vice President Finance Asia. Mr. Kurali's compensation for his new role will be determined and disclosed at a later date. Additionally, the filing reports the results of the Company's Annual Meeting of Shareholders held on May 7, 2014. All director nominees were duly elected, and PricewaterhouseCoopers SA was ratified as the independent auditor. Shareholders also approved, on an advisory basis, the executive compensation. Two shareholder proposals regarding lobbying expenditures and animal testing were voted on and subsequently defeated, indicating shareholder alignment with the company's current stances on these matters.
Key Highlights
- 1Vice President and Controller Joachim Psotta to retire effective February 28, 2015.
- 2Andreas Kurali appointed as successor to the Vice President and Controller role, effective March 1, 2015.
- 3All director nominees presented at the Annual Meeting of Shareholders were elected.
- 4PricewaterhouseCoopers SA was ratified as the independent auditor for the company.
- 5Shareholders approved executive compensation on an advisory basis.
- 6Shareholder proposals concerning lobbying and animal testing were defeated.