Philip Morris International (PMI) is a leader in Big Tobacco, profiting from the sale of Marlboro, Chesterfield, Virginia Slims and other cigarette brands. It’s also at the forefront in transitioning to the sale of non-combustible nicotine products, which now make up 30% of PMI’s revenue. André Calantzopoulos has worked for PMI for almost forty years, most recently as CEO and now executive chairman. We talked about the opportunities and challenges PMI confronts in making this transition. I pressed him on why PMI still opposes some government regulations to limit smoking. Is their ultimate objective to replace the market for cigarettes with an even bigger market for less dangerous forms of nicotine consumption? What about the potential medical value of nicotine? Do they have plans to get more deeply involved in the cannabis industry? And why did he decide, as a young man, to go to work for Big Tobacco?

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