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Jacek Olczak

Chief Executive Officer & Director, Philip Morris

Search every verified Jacek Olczak interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. During Philip Morris International’s fourth-quarter 2024 earnings call on February 6, 2025, CEO Jacek Olczak discussed the company’s performance and outlook. He noted that recent U.S. Food and Drug Administration authorizations for heat-not-burn products and oral nicotine pouches could encourage other governments to accept smoke-free alternatives, while expressing frustration with governments that he said “stupidly oppose smoke-free products or why allowing cigarettes.” He added that the company’s 2025 guidance did not include significant volume contributions from new geographic markets. Olczak also addressed growth expectations, stating that the company had left behind roughly six or more points of growth due to unfavorable market conditions in certain regions. He said the projected growth was focused on organic expansion in existing geographies, with volume growth similar to past levels. His remarks emphasized the company’s shift toward a broader smoke-free portfolio, suggesting that future communications would increasingly highlight total smoke-free performance rather than individual product categories.

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Notable quotes

“Philip Morris operates in 160 markets but smoke-free products only in 100; we are not in the remaining 60 markets for one fundamental reason: the cigarettes are being allowed by the legislation while the smoke-free products are being banned.”

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