Philip Morris International Inc. has appointed Yann Guérin as its new general counsel, taking over from Suzanne Rich Folsom, who recently left the company. Guérin has an extensive background in legal and compliance roles, having spent nearly 18 years at PMI. In his most recent position as associate general counsel for corporate, he played a key role in overseeing PMI's $16 billion acquisition of Swedish Match AB.
Folsom, a highly experienced legal executive and former Big Law practice leader, served as PMI's top lawyer for almost three years. She decided to step down from her position and relocate back to the Washington area. Still, she will continue to contribute to PMI as a senior strategic adviser on a consulting basis. The company aims to make the United States one of its primary markets. It plans to sell IQOS, a heated tobacco, and smoke-free electronic cigarette product, following a $2.7 billion deal with Altria Group Inc. in 2025.
While Folsom was not among PMI's highest-paid executives in 2022, sources familiar with the situation indicate that she plans to retire. Meanwhile, Guérin's legal career began as a mergers and acquisitions lawyer at Skadden, Arps, Slate, Meagher & Flom, providing him with a strong foundation for his new role as PMI's general counsel.
