Philip Morris International Inc. (PMI) (NYSE: PM) today
announced that it has been included in the 2022 Bloomberg
Gender-Equality Index (GEI) for the second year running, when the
threshold for inclusion—based on both disclosure and data
performance—has grown. This is in recognition of the significant
progress PMI has made in increasing gender equality globally.
Currently, 39.2% of management positions are held by women, an
increase of more than 10% since 2014 and still growing.
Silke Muenster, Chief Diversity Officer at PMI, noted: “I am
delighted that PMI has made the GEI for the second year running,
particularly given that the threshold for inclusion within this
index has grown since last year. While we still have a long way to
go, I am very proud of the progress we have made to date, and I am
confident about achieving more in the future.”
The business case for gender equality is clear: Companies in
which woman hold more management roles, generate higher cash flow
returns on investment according to research by Credit Suisse 1. As
part of PMI’s commitment to gender parity, a global company-wide
target was set to improve gender balance to at least 40% female
representation in management by the end of 2022 and measuring and
reporting progress against it.
Other achievements and initiatives to further gender equality by
PMI have included:
- Becoming the first EQUAL-SALARY globally certified company
(March 2019), confirming equal pay for equal work for women and men
everywhere PMI operates (90+ countries).
- Addressing gender bias in talent assessments—including in
recruitment, performance management, and opportunities for
promotion.
- Introduction of global inclusive parental leave guidelines
(2020).
- Celebrating top female talent as role models and offering
formal and informal opportunities for women to build valuable
connections for support, learning, and mentoring.
- Launching a women in leadership program to support females in
leadership positions.
The GEI is a modified market capitalization-weighted index that
aims to track the performance of public companies committed to
transparency in gender-data reporting. It measures gender equality
across five pillars: female leadership and talent pipeline, equal
pay and gender pay parity, inclusive culture, anti-sexual
harassment policies, and pro-women brand.
“We are proud to recognize PMI and the other 417 companies
included in the 2022 GEI for their commitment to transparency and
setting a new standard in gender-related data reporting,” said
Peter T. Grauer, chairman of Bloomberg and founding chairman of the
U.S. 30% Club. “Even though the threshold for inclusion in the GEI
has risen, the member list continues to grow. This is a testament
that more companies are working to improve upon their
gender-related metrics, fostering more opportunity for diverse
talent to succeed in their organizations.”
All companies included in this year’s index scored at or above a
global threshold established by Bloomberg to reflect disclosure and
the achievement or adoption of best-in-class statistics and
policies.
Philip Morris International: Delivering a Smoke-Free
Future Philip Morris International (PMI) is leading a
transformation in the tobacco industry to create a smoke-free
future and ultimately replace cigarettes with smoke-free products
to the benefit of adults who would otherwise continue to smoke,
society, the company, its shareholders and other stakeholders. PMI
is a leading international tobacco company engaged in the
manufacture and sale of cigarettes, as well as smoke-free products,
associated electronic devices and accessories, and other
nicotine-containing products in markets outside the U.S. In
addition, versions of PMI's IQOS Platform 1 device and consumables
have received marketing authorizations from the U.S. Food and Drug
Administration (FDA) under the premarket tobacco product
application (PMTA) pathway; the FDA has also authorized the
marketing of a version of IQOS and its consumables as a Modified
Risk Tobacco Product (MRTP), finding that an exposure modification
order for these products is appropriate to promote the public
health. PMI is building a future on a new category of smoke-free
products that, while not risk-free, are a much better choice than
continuing to smoke. Through multidisciplinary capabilities in
product development, state-of-the-art facilities and scientific
substantiation, PMI aims to ensure that its smoke-free products
meet adult consumer preferences and rigorous regulatory
requirements. PMI's smoke-free product portfolio includes
heat-not-burn products, nicotine-containing vapor products and oral
nicotine products. As of September 30, 2021, PMI's smoke-free
products are available for sale in 70 markets in key cities or
nationwide, and PMI estimates that approximately 14.9 million
adults around the world have already switched to IQOS and stopped
smoking. For more information, please visit www.pmi.com and
www.pmiscience.com.
Forward-Looking and Cautionary Statements This press
release contains projections of future results and other
forward-looking statements. Achievement of future results is
subject to risks, uncertainties and inaccurate assumptions. In the
event that risks or uncertainties materialize, or underlying
assumptions prove inaccurate, actual results could vary materially
from those contained in such forward-looking statements. Pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, PMI is identifying important factors
that, individually or in the aggregate, could cause actual results
and outcomes to differ materially from those contained in any
forward-looking statements made by PMI.
PMI's business risks include: excise tax increases and
discriminatory tax structures; increasing marketing and regulatory
restrictions that could reduce our competitiveness, eliminate our
ability to communicate with adult consumers, or ban certain of our
products in certain markets or countries; health concerns relating
to the use of tobacco and other nicotine-containing products and
exposure to environmental tobacco smoke; litigation related to
tobacco use and intellectual property; intense competition; the
effects of global and individual country economic, regulatory and
political developments, natural disasters and conflicts; changes in
adult smoker behavior; lost revenues as a result of counterfeiting,
contraband and cross-border purchases; governmental investigations;
unfavorable currency exchange rates and currency devaluations, and
limitations on the ability to repatriate funds; adverse changes in
applicable corporate tax laws; adverse changes in the cost,
availability, and quality of tobacco and other agricultural
products and raw materials, as well as components and materials for
our electronic devices; and the integrity of its information
systems and effectiveness of its data privacy policies. PMI's
future profitability may also be adversely affected should it be
unsuccessful in its attempts to produce and commercialize
reduced-risk products or if regulation or taxation do not
differentiate between such products and cigarettes; if it is unable
to successfully introduce new products, promote brand equity, enter
new markets or improve its margins through increased prices and
productivity gains; if it is unable to expand its brand portfolio
internally or through acquisitions and the development of strategic
business relationships; or if it is unable to attract and retain
the best global talent, including attracting women or diverse
candidates. Future results are also subject to the lower
predictability of our reduced-risk product category's
performance.
PMI is further subject to other risks detailed from time to time
in its publicly filed documents, including the Form 10-Q for the
quarter ended September 30, 2021. PMI cautions that the foregoing
list of important factors is not a complete discussion of all
potential risks and uncertainties. PMI does not undertake to update
any forward-looking statement that it may make from time to time,
except in the normal course of its public disclosure
obligations.
About the Bloomberg Gender-Equality Index (GEI) Companies
submitted a social survey created by Bloomberg, in collaboration
with subject matter experts globally. Those included on this year’s
index scored at or above a global threshold established by
Bloomberg to reflect disclosure and the achievement or adoption of
best-in-class statistics and policies.
Both the survey and the GEI are voluntary and have no associated
costs. Bloomberg collected this data for reference purposes only.
The index is not ranked. While all public companies are encouraged
to disclose supplemental gender data for their company’s investment
profile on the Bloomberg Terminal®, those that have a market
capitalization of USD 1 billion are eligible for inclusion in the
index. For more information on the GEI and how to submit
information for next year’s index visit:
https://www.bloomberg.com/gei. Bloomberg clients can access the GEI
at { BGEI Index DES <GO>}.
For more information on Bloomberg’s sustainable finance
solutions, including the GEI, please visit:
https://www.bloomberg.com/professional/sustainable-finance/.
Bloomberg Media Contact: GEIComms@bloomberg.net
About Bloomberg For more information on Bloomberg’s
sustainable finance solutions, including the GEI, please visit:
https://www.bloomberg.com/professional/sustainable-finance/.
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###
1 Richard Kersley, Eugene Klerk, Anais Boussie, Bahar Sezer
Longworth, Joelle Anamootoo Natzkoff, and Darshana Ramji, The CS
Gender 3000 in 2019: The Changing Face of Companies (Credit Suisse
Research Institute, October 10, 2019): p. 22-23.
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version on businesswire.com: https://www.businesswire.com/news/home/20220126005463/en/
Philip Morris International David Fraser T. +41 (0)58 242 4500
E. david.fraser@pmi.com
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