NEW YORK-- June 23, 2021 -- Philip Morris International (PMI) (NYSE:PM) today announced the relocation of its corporate headquarters to Connecticut from New York. The move, which was facilitated with the support of Gov. Ned Lamont’s office, will bring approximately 200 jobs to the state—providing a boost to the state’s economy. The new headquarters is expected to be operational by summer 2022.

“Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving,” said Jacek Olczak, CEO of PMI. “We consider it an ideal location for our new U.S. head office, where we will be working to more quickly achieve our vision of a smoke-free future. We are excited about what the state has to offer our company, our employees, and their families—and we very much look forward to integrating into the community in a meaningful way.”

“We are amid a profound transformation at PMI,” continued Olczak, “and our new base in Connecticut will serve to accelerate our progress. Beyond replacing cigarettes with better alternatives, we intend to draw on our expertise in life and medical sciences to develop solutions in areas that include respiratory drug delivery and botanicals. Through our product innovations, sustainability leadership, people-centered employment practices, and community involvement, we intend to be a source of pride for the state.”

The new office—which is also PMI’s headquarters—will house the Americas teams and members of other corporate functions. PMI’s Operations Center will remain in Lausanne, Switzerland, to continue to support the business across the globe. The company employs a workforce of more than 71,000 worldwide.

“We are excited to welcome PMI to the State of Connecticut, showing once again that our state is a growing and thriving ecosystem for businesses,” said Connecticut Gov. Ned Lamont. “They recognize what we’ve been saying for years: Connecticut is a wonderful place to raise a family and a competitive place to conduct business. I am also impressed by their culture and desire to integrate closely into the communities in which they operate, and we look forward to seeing their active and charitable contributions to our state.”

“Philip Morris International’s move to Southwest Connecticut will bring approximately 200 good-paying jobs that will boost our economy and augment the tax base which funds our schools, infrastructure, and essential community services,” said Representative Jim Himes, D-Conn. “As our area recovers from COVID-19, I’m pleased to see new economic investment in our community, and thank Governor Lamont for his laser-like focus.”

PMI is widely recognized as a top employer and a leader in gender equity, equitable pay, and environmental, social, and corporate governance (ESG) measures. Recognitions include:

- The first international company to achieve global EQUAL-SALARY certification

- Included in the 2021 Bloomberg Gender-Equality Index

- Certified Global Top Employer for five consecutive years by the Top Employers Institute

- Ranked on CDP’s A List for climate change for seven years in a row

- Included in the Dow Jones Sustainability Index North America

- Awarded CDP’s “triple A” score in 2020 for efforts to combat climate change and the protection of forests and water security

Since 2016, PMI has undergone a major business transformation, moving away from cigarettes and other combustible tobacco products in favor of smoke-free alternatives that, while not risk-free, are scientifically substantiated to be a better choice than continued smoking. PMI is committed to a smoke-free future, and its noncombustible products already accounted for nearly 30 percent of net revenues in the first quarter of 2021. Building on this progress, the company has accelerated its ambitions, now aiming to be a majority smoke-free company in terms of net revenues by the end of 2025.

The potential public health impact of PMI’s scientifically substantiated smoke-free products is increasingly being recognized by governments and public health authorities. For instance, in the U.S., the Food and Drug Administration (FDA) has issued marketing authorizations for IQOS, PMI’s electronically heated tobacco system. In July 2020, the FDA authorized the IQOS 2.4 system as a Modified Risk Tobacco Product (MRTP), concluding that issuing exposure modification orders for the system is “appropriate to promote the public health” and is “expected to benefit the health of the population as a whole.” The agency is now conducting a scientific review of the company’s MRTP application for the IQOS 3 system, which was authorized for sale in the U.S. in December 2020.

Globally, as of March 31, 2021, an estimated 14 million adults have switched to IQOS and stopped smoking.