Philip Morris International to move corporate headquarters to Connecticut
A promotional image of a battery-powered e-cigarette known as IQOS VEEV. (Courtesy of Philip Morris International)
Philip Morris International is moving its corporate headquarters from New York City to Connecticut, bringing about 200 new jobs to the state, the company announced on Tuesday
The new office will include employees on the Americas teams and members of other corporate functions. Its operations center will stay in Lausanne, Switzerland.
"Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving," CEO Jacek Olczak said in a news release. "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."
Philip Morris International is separate from Philip Morris USA, which is a subsidiary of Altria. Philip Morris International split off from Altria years ago, which gave it more leeway to pursue sales growth in emerging markets. Philip Morris International has handled international sales for Marlboro cigarettes and has churned out new Marlboro-branded products catering to local tastes in Asia, Europe, Latin America and other regions. Philip Morris USA distributes Marlboro-branded products in the United States.
Like many companies dealing with declining cigarette sales, Philip Morris International has been investing in alternatives. This includes a heat-not-burn cigarette option, iQOS.
"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," Olczak said. "Through our product innovations, sustainability leadership, people-centered employment practices, and community involvement, we intend to be a source of pride for the state."
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The new Philip Morris International headquarters is expected to open somewhere in Fairfield County by summer 2022.
"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," Gov. Ned Lamont said in a news release. "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."
With The Associated Press