According to CTK, PMCR will appoint new CEO Anja Fiedlerova as of October which will be responsible for operations in the Czech Republic and Slovakia. Anja Fiedlerova will replace current CEO Graeme Davidson, which will be transferred to headquarters of Philip Morris International (PMI) in Lausanne. Ms. Fiedlerova before joining PMI in February 2005 was engaged in Unilever at different managing positions in Europe, Asia and Africa.
Our view:
We see the news as slightly negative. PMCR is still struggling to stabilize its business in Czech Republic and Slovakia, thus the mission has not been accomplished yet.