PMI operations center in Lausanne,
pictured in May 2017
|Worldwide (excluding the United States)|
|Louis Camilleri (Chairman)|
André Calantzopoulos (CEO)
|Products||Cigarettes, cigars, Codentify, fine-cut rolling tobacco, snuff, rolling papers and tubes|
|Revenue||US$79.82 billion (2018)|
|US$11.37 billion (2018)|
|multinational cigarette and tobacco manufacturing company, with products sold in over 180 countries. The most recognized and best selling product of the company is Marlboro. Philip Morris International is often referred to as one of the companies comprising Big Tobacco.
Until a spin-off in March 2008, Philip Morris International was an operating company of Altria. Altria explained the spin-off, arguing PMI would have more "freedom," i.e. leeway outside the responsibilities and standards of American corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets", while Altria focuses on the American domestic market. The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets.
The company's legal seat is in New York City, yet it does not operate in the United States of America. Philip Morris USA, a subsidiary of PMI's former owner American parent Altria group, owns the Philip Morris brands there. Operational headquarters are in Lausanne, Switzerland.
With tobacco being addictive and the single greatest cause of preventable death globally, the company is highly controversial, not least because of its history of obfuscating scientific evidence around the health impacts of smoking. It has been the subject of litigation and restrictive legislation from governments.
In response to burgeoning awareness of the harm to health of cigarettes, PMI has declared on its homepage the intention to replace cigarettes with smoke-free products, and to "switch ... adult smokers" to these products as the first phase of a business strategy, as a decision for the benefit of "adult smokers" and the companies shareholders and employees.
With the world-wide decrease in smoking in the 21st century, shares of Philip Morris were no longer considered the "safe haven" they once were. The company ranked No. 108 in the 2018 Fortune 500 list of the largest corporations by total revenue.
The company states its history is traced to a London tobacconist, Philip Morris, opening a single shop on London’s Bond Street in 1847 which sold tobacco and cigarettes. In 1881, Philip Morris' son, Leopard Morris, established "Philip Morris & Company and Grunebaum Ltd" with Joseph Grunebaum. In 1885, the company changed its name to "Philip Morris & Co. Ltd." 
In 1894, William Curtis Thomson and his family began to control the company, and in 1902 the company was incorporated in New York. In 1919, the American business was acquired and incorporated as "Philip Morris & Co. Ltd., Inc." in Virginia.