Philip Morris hires 2 former FDA officials to help accelerate smoke-free transition

Philip Morris International Inc. PM, -0.53% said Wednesday that it has appointed two former officials with the U.S. Food and Drug Administration to positions that will accelerate the cigarette maker’s transition to a smoke-free future. The company said it has appointed Dr. Badrul Chowdhury, who was a regulator in the FDA’s pulmonary division, as its chief life sciences officer, and will join Philip Morris’ senior management team in January 2023. “His wealth of knowledge and experience will be critical to help achieve our ambition of a smoke-free future,” said Chief Executive Jacek Olczak. And Dr. Matthew Holman, who was most recently director of the office of science at the Center for Tobacco Products at the FDA, was appointed vice president of U.S. Scientific Engagement and Regulatory Strategy. Philip Morris’ stock, which was indicated up nearly 1% in premarket trading, has lost 1.0% year to date while the S&P 500 SPX, +0.27% has dropped 17.5%.