Philip Morris relocates to Lausanne
Philip Morris has decided to transfer the headquarters of its international tobacco activities from New York to Lausanne.
The move is aimed at speeding up the company’s decision-making process by alleviating the time difference between major markets.
The move will be completed in a year’s time. The details of the new operation in Lausanne will be released in three months.
The tobacco giant’s business activities in Europe, Africa and the Middle East are already handled from Lausanne, and there has been a Philip Morris office in the city since 1964
Philip Morris had a net profit of SFr20 billion ($12.28 billion) in the first nine months of last year, a five per cent rise on the same period for the previous year.
swissinfo with agencies
More
Why Switzerland is among the ten fastest-warming countries in the world
More
In Switzerland four out of ten people have a migrant background – who are they?
More
Suicides in Switzerland quadruple among older people
More
French gangs target luxury cars in Switzerland
More
Renewed controversy in Switzerland over US fighter jets – explained
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.