MANILA, Philippines — “This is a case of one plus one is equal to more than two,” Jacek Olczak, the new chief executive officer of Philip Morris International (PMI), said to describe his company’s partnership with Lucio Tan’s Fortune Tobacco Corp. (FTC).
The partnership is a 50-50 business combination between PMI and FTC through PMFTC Inc., the leading tobacco company in the Philippines.
Olczak made that statement in a global online conference on May 5, shortly after assuming his post as CEO of PMI.
Olczak’s appointment — which was announced following the PMI’s annual shareholders’ meeting on May 5 — came as the company was in the middle of its ambitious vision to deli…
Keep on reading: New Philip Morris International CEO pleased over partnership with Lucio Tan