Philip Morris (PMI) announced that Suzanne Rich Folsom has been appointed Senior Vice President and General Counsel, leading Legal, Ethics & Compliance, effective July 1. She succeeds Marc Firestone, who will retire later this year. Since January 2018, Mr. Firestone has held a dual role at PMI: President, External Affairs and General Counsel. He will continue to lead the company’s External Affairs function until a successor is appointed.
In her new position based in Lausanne, Ms. Folsom will report to PMI CEO André Calantzopoulos. Leading the Legal, Ethics & Compliance teams, she will be an ambassador for the company across legal and regulatory environments; influence conversations aimed at creating a climate of change for better consumer choice as the company drives forward with its smoke-free transition; serve as counselor to PMI’s executive leadership team, board of directors, and other leaders; and build support for appropriate, risk-proportionate regulatory frameworks, among other functions.
Suzanne Rich Folsom has decades of broad international experience and a track record of successfully driving transformation within public and private corporations during periods of heightened regulatory and public scrutiny. She comes to PMI from Manatt, Phelps & Phillips, LLP, where she co-chaired the Investigations, Compliance, and Strategic Response Group and was a member of the Government & Regulatory and Cyber & Privacy groups. Before that, she was the General Counsel, Chief Compliance Officer, and SVP, Government Affairs and Global Public Policy at United States Steel Corporation. Previously, she held leadership positions with a number of global entities, including AIG, ACADEMI, and the World Bank, and served in key roles for several Heads of State and their families.
«Suzanne Rich Folsom comes to us with a reputation as one of the most highly regarded and experienced general counsels and compliance and corporate governance specialists, having operated in very complex business environments», said André Calantzopoulos. «She is a champion of inclusion and diversity who has established a reputation for diligence, courage, integrity, and an unwavering commitment to ethical conduct. Her vast knowledge and ability to inspire the best in the people with whom she interacts will be a tremendous asset to PMI as we continue our corporate transformation and progress toward a better, smoke-free future», he concludes.