Michael E. Szymanczyk

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Photo from Internet Archive Michael E. Szymanczyk is a Philip Morris Chairman & Chief Executive Officer (1997-present). His compensation in 2008 was $11.6 million in 2008. Szymanczyk replaced Louis Camilleri as CEO of Altria Group Inc. as it spun off Philip Morris International at the end of March 2008. Most of his 2008 pay was given as stock awards that were valued at $6.7 million when they were granted on Jan. 30, 2008, and April 23, 2008. He also received a salary of $1.2 million and a performance-based bonus of $2.8 million, plus nearly $1 million in executive perks, including personal use of company airplanes worth $572,259, reimbursement of taxes on assets held for retirement of $208,860 and a $180,000 deposit to a defined contribution plan.[1]

Biography

Michael E. Szymanczyk received a Bachelor of Science degree in Finance from Indiana University in 1971.

He was appointed Chairman and Chief Executive Officer of Philip Morris USA in August 2002. He served as Chairman of PM USA from April 2002–August 2002. Prior to that appointment, he served as President and CEO of Philip Morris USA from November 1997 to April 2002. Mr. Szymanczyk served as Chief Operating Officer of Philip Morris USA from July 1997 to November 1997. Mr. Szymanczyk first joined Philip Morris USA as Senior Vice President of Sales, in October 1990.

Prior to working for PM Szymanczyk was a Procter & Gamble company Sales Executive from 1971 to 1987; he joined Philip Morris' Kraft Unit as Vice President of Sales in 1987 and rose to become Vice President of Retail Operations before leaving to become Senior Vice President. In 1990, Mr. Szymanczyk returned to Philip Morris as Senior VP of Sales for tobacco subsidiary Philip Morris, USA and was promoted to CEO in December 1994. [2][3]

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References

  1. Vinnee Tong Altria CEO gets $11.6M in compensation in 2008 Associated Press/Forbes.com. April 10, 2009
  2. October 29, 1997 Richmond Newspapers, Inc.
  3. Source: Philip Morris Summary - PMI Liability Notebook

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