How Olczak was paid
$29.1M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Jacek OlczakGroup CEO PMI | $1,809,737 | $18,033,564 | $5,217,391 | $3,984,399 | $27,080 | $29,072,171 |
| Emmanuel BabeauGroup Chief Financial Officer | $1,517,944 | $5,456,863 | $2,510,894 | $17,385,133 | $23,149 | $26,893,983 |
| Massimo AndolinaPresident, Europe Region | $1,040,496 | $2,768,866 | $1,956,529 | $2,104,557 | $12,334 | $7,882,782 |
| Frederic de WildeCEO PMI International | $1,207,773 | $4,921,681 | $2,355,091 | $2,285,019 | $18,446 | $10,788,010 |
| Stacey KennedyCEO PMI U.S. | $977,868 | $2,413,046 | $1,115,217 | $854,943 | $1,260,178 | $6,621,252 |
What changed and why
- $29.1MJacek Olczak received total compensation of $29,072,171 in 2025, representing an increase from $20,237,916 in 2024.
- PMI met or exceeded all pre-established annual performance-based targets, resulting in a certified performance rating of 115.
- $16.9BSmoke-free business net revenues reached $16.9 billion, representing 41.5% of total net revenues in 2025.
- 95.38%Shareholders approved the 2025 say-on-pay proposal with 95.38% support at the annual meeting.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.