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Philip Morris ČR a.s. Announces Key Leadership Changes: Fabio Costa Elected as the New Chairman of the Board of Directors, Serhan Kilic as Director of the Kutná Hora Plant

At the Board of Directors meeting held on July 31, 2024, Philip Morris ČR a.s. made significant management changes. Effective August 1, 2024, Managing Director Fabio Costa will assume the role of Chairman of the Board of Directors. Additionally, the production plant in Kutná Hora will now be led by Serhan Kilic.

At its meeting, the Board of Directors first took note of the resignation of the Chairperson of the Board of Directors, Andrea Gontkovičová, and Board Member Tamás Szabados. Fabio Costa, the current Managing Director of the company, was then appointed as the new substitute member until the next Annual General Meeting of Shareholders in 2025. Fabio Costa was also elected as the new Chairman of the Board of Directors with effect from August 1, 2024. Andrea Gontkovičová continues as a member of the Board of Directors.

"I very much appreciate the trust of the members of our management team, and I am confident that our collaboration will further accelerate the transformation towards a smoke-free future. I would also like to thank Andrea and Tamás on behalf of the entire Board of Directors for their outstanding contribution to the significant expansion of smoke-free alternatives in the Czech, Slovak and Hungarian markets and wish them both every success in their future work," said Fabio Costa, the new Chairman and Managing Director of Philip Morris ČR a.s. 

The Board of Directors also noted the resignation of Board Member Manuel A.V.G. Marques and appointed Serhan Kilic as a substitute member until the next Annual General Meeting of Shareholders in 2025. Serhan Kilic was also appointed as the Director of the Kutná Hora production plant. "On behalf of the entire Board of Directors, I extend our heartfelt gratitude to Manuel A.V.G. Marques. Under his leadership, the Kutná Hora plant has reached record production volumes, while advancing safety and sustainability in production, and laying the groundwork for the upcoming production of smoke-free products. We are confident that Serhan Kilic, with his extensive international experience in manufacturing excellence, will continue this successful trajectory" adds Fabio Costa.

Fabio Costa was appointed Managing Director of Philip Morris CR a.s. on June 1, 2024, after four years leading PMI's global strategy, where he was responsible for key strategic partnerships, among other things. He also led a number of initiatives aimed at accelerating our transformation, both in product and commercial areas. Fabio Costa holds an MBA from Darden GSB and two master's degrees in engineering from Turin and Chicago. He has been Chairman of the Board of Directors of Philip Morris ČR a.s. since August 1, 2024.

Serhan Kilic joined PMI in 2019 as Manager Open+ Deployment in Karawang, Indonesia, and then over the next two years led the deployment of Open+ (i.e. integrated manufacturing system) at PMI manufacturing affiliates in Eastern Europe and Asia. Most recently, he worked as the Head of the Centre of Excellence Loss Elimination. Serhan Kilic has a broad knowledge of project engineering and management and has had over 14 years of extensive experience in managing production efficiency across various international organizations such as Procter & Gamble, Kraft Foods, or Mondelez International. Serhan Kilic has degree on Electrical and Electronic Engineering from the Middle East Technical University (METU) in Ankara, Turkey. 

Composition of the Board of Directors of Philip Morris ČR a.s., as of August 1, 2024:

• Fabio Costa - Chairman of the Board of Directors and Managing Director

• Andrea Gontkovičová - Member of the Board of Directors

• Serhan Kilic - Member of the Board of Directors and Director Manufacturing

• Eugenia Panato - Member of the Board of Directors and Director Finance

• Petr Šebek - Member of the Board of Directors and Director External Affairs

• Berk Temuroglu - Member of the Board of Directors and Director Commercial Operations