Updated: Wednesday, 13 Mar 2013, 10:57 AM EDT
Published : Wednesday, 13 Mar 2013, 10:57 AM EDT
RICHMOND, Va. (AP) — Philip Morris International, which sells Marlboro and other cigarette brands overseas, says its C-E-O will step down and be replaced by the man who led it before it became an independent company.
Philip Morris International Inc. says its current chief operating officer, Andre Calantzopoulos, will become C-E-O immediately after the company's annual shareholder meeting on May 8. He also was nominated for election to the board.
The current C-E-O, Louis Camilleri, will step down but remain in his current job of chairman.
The 55-year-old Calantzopoulos has served as Philip Morris International's C-O-O since the company spin off from Altria Group Inc. in 2008. He joined the company in 1985 and served as its C-E-O of the international unit from 2002 until the spinoff.
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