President of Middle East & Africa Drago Azinovic to depart PMI on March 31, 2023

Philip Morris International Inc.

Severance payment of CHF 2,401,909 (~$2.55M) plus CHF 1,267,500 (~$1.35M) for 24-month non-compete.
Unvested 2021-2023 RSUs will fully vest on termination date; PSUs vest on scheduled dates per performance.
No pro-rated incentive compensation for Jan-Mar 2023; 2022 IC and 2023 equity awards remain eligible.
Separation agreement includes standard release of claims, confidentiality, and non-compete obligations.

item 5.02 item 9.01

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Departed

Drago Azinovic

President, Middle East and Africa and PMI Duty Free Region

PM · Philip Morris International Inc.

Effective: 2023-03-31
Filed: March 3, 2023, 6:59 PM ET

Drago Azinovic, currently President, Middle East and Africa and PMI Duty Free Region, will leave the organization after a transition period in connection with the Company’s new regional structure and related senior management changes.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Drago Azinovic departed as President, Middle East and Africa and PMI Duty Free Region at Philip Morris International Inc..

Action: will leave
Role: President, Middle East and Africa and PMI Duty Free Region

Exact text from the filing

Drago Azinovic, currently President, Middle East and Africa and PMI Duty Free Region, will leave the organization after a transition period in connection with the Company’s new regional structure and related senior management changes.

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Philip Morris International Inc. filing history →

Source: SEC EDGAR

accession 0001413329-23-000098

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