Philippines: Veteran Insider to Succeed Retiring Philip Morris Fortune Tobacco President

Source from:  GMANews.TV (ph)  04/26/2013

Cigarette maker Philip Morris Fortune Tobacco Corp. Inc. (PMFTC) will have a new president starting  May 1, succeeding Chris Nelson who is retiring effective on the same date.

In an emailed statement, the company said Nelson will be succeeded by Paul Riley, another company veteran, as PMFTC president.

"Chris has long expressed his desire to retire after 10 years in the Philippines with PMPMI (Philip Morris Philippines Manufacturing Inc.) and PMFTC and more than 27 years in Philip Morris International," the PMFTC statement read.

Nelson is a 32-year veteran in the tobacco industry. He will be retiring in the Philippines.

Riley joined Philip Morris in Australia in 1988 and "assumed roles of increasing responsibility" in Hong Kong, Thailand, Japan and recently as Managing Director of  the PMI affiliate in the Republic of Serbia, Montenegro and Central Europe South.

Lucio Tan-controlled PMFTC is the combined business operations of Philip Morris and Fortune Tobacco and is the makers of the brands Marlboro, Philip Morris, Hope, Fortune and Champion. Enditem