By Timothy S, Donahue
Top Takeaways:
Leadership change: Philip Morris International appointed Massimo Andolina as group chief financial officer, effective Aug. 1.
Transition plan: Current CFO Emmanuel Babeau will remain a strategic advisor to CEO Jacek Olczak through March 2027.
Smoke-free focus: PMI credited both executives for helping accelerate the company’s transition to smoke-free products.
Philip Morris International has named Massimo Andolina as its next group chief financial officer as the company continues to accelerate its shift toward smoke-free products.
PMI said Andolina will officially assume the CFO role on Aug. 1, succeeding Emmanuel Babeau, who will remain with the company as a strategic advisor to CEO Jacek Olczak through March 2027 to support the transition.
Andolina currently serves as president of PMI’s Europe Region, the company’s largest geographic business unit. During the announcement, Olczak praised Andolina’s operational experience and leadership throughout PMI’s smoke-free transformation.
“Massimo is a highly respected and proven leader with deep knowledge of our business and an outstanding track record of delivering innovation, growth and strong financial results,” Olczak said in a statement.
Before leading PMI’s European business, Andolina oversaw the company’s global operations and transformation initiatives, including manufacturing, supply chain, and operational efficiency programs. PMI credited him with helping strengthen supply-chain resilience and improve execution across the business during a period marked by global logistics disruptions, inflationary pressures and rapid growth in demand for smoke-free products.
Under Andolina’s leadership, PMI’s Europe Region continued to expand smoke-free product sales, particularly around the company’s IQOS heated tobacco platform and oral nicotine portfolio. The company also used the announcement to recognize Babeau’s six-year tenure as CFO, which encompassed some of PMI’s most significant strategic shifts.
During Babeau’s tenure as finance chief, PMI accelerated its transition away from combustible cigarettes, expanded its global smoke-free portfolio, and completed its $16 billion acquisition of Swedish Match in 2022. That acquisition gave PMI control of the rapidly growing ZYN nicotine pouch business, which has since become one of the strongest-performing segments in the global nicotine market.
PMI said that smoke-free products accounted for 43% of the company’s net revenues in the first quarter of 2026, underscoring how significantly the business has shifted beyond traditional cigarettes. Olczak credited Babeau with helping to strengthen the company’s financial position while supporting PMI’s long-term smoke-free strategy.
“Emmanuel has played a critical role in our transformation journey,” Olczak said. “His leadership, discipline and strategic vision have helped position PMI for long-term growth.”
