Philip Morris International (NYSE:PM) appointed Andre Calantzopoulos as the new CEO. Previously the Chief Operating Officer he moves up an important rung. Louis C Camilleri relinquished the CEO position and stays on as chairman. Governance experts will applaud the separation of the two posts.
What changes can be expected at the board level? Six out of twelve directors are 65 or older. Lucio A Noto, the Presiding Director is 73. Growth is expected in foreign non US jurisdictions. Read Asian and then drill down to China. Which Board members are assets in this strategy.
Jennifer Li 44 is the CFO of Baidu which means China. She has impressive credentials from General Motors. Also given her age she should have some staying power. Baidu and China sponsors must approve of this appointment.
Ms. Kalpana Morparia 62 assumed her current position with J.P. Morgan India Private Ltd. in 2008, and is a member of J.P. Morgan’s Asia Pacific Executive Committee.
So we have the all important China and India markets at least initially covered. Carlos Slim Hetu 72 is one of the richest men on planet earth so that sounds pretty good for influence and guidance.
Harold Brown 84 the former defence secretary may provide some geo-political context in a warrior conflict context. But can he contribute to establishing market share in controlled economies. Probably not.
So watch for some constant changes. Most of the board for obvious reasons was appointed back in 2008. So after five years it would not be unusual to start changing out the old guard.
I do not expect a Euro-centric flavour to the changes if they expect to make more inroads in Asia.