MANILA, Philippines - Cigarette manufactuer Philip Morris Fortune Tobacco Corp. Inc (PMFTC) will have a new president beginning May 1.
In an official statement, the company said its current president Chris Nelson is retiring effective May 1 and will be succeeded by Paul Riley.
“Chris has long expressed his desire to retire after 10 years in the Philippines with PMPMI (Philip Morris Philippines Manufacturing Inc.) and PMFTC and more than 27 years in Philip Morris International (PMI),†said PMFTC in the statement.
Nelson worked for 32 years in the tobacco industry. He will be retiring in the Philippines.
His successor, Riley, joined Philip Morris in Australia in 1988 and “assumed roles of increasing responsibility†in Hong Kong, Thailand, Japan and recently as managing director of the PMI affiliate in the Republic of Serbia, Montenegro and Central Europe South.
PMFTC, the product of a merger between Philip Morris and Fortune Tobacco owns the brands Marlboro, Philip Morris, Hope, Fortune and Champion cigarettes.