Shares of Philip Morris International Inc. (NYSE:PM) ended Friday session in red amid volatile trading. The shares closed down -0.91 points or –0.91% at $98.84 with 5.85 million shares getting traded. Post opening the session at $99.22, the shares hit an intraday low of $98.49 and an intraday high of $99.37 and the price vacillated in this range throughout the day. The company has a market cap of $150.73 billion and the numbers of outstanding shares have been calculated to be 1.55 billion shares.
Philip Morris International Inc. (PM) on September 15, 2016 announced that the response to PMI IMPACT, its new global funding initiative for third party projects dedicated to fighting smuggling and related crimes, has exceeded expectations with more than 200 expressions of interest submitted in the first funding round. PMI has pledged USD 100 million for three funding rounds.
“We are delighted to see that PMI IMPACT has been well-received and that a broad range of organizations recognized the need to join forces to eliminate illegal trade in its many forms. With the leadership of the Expert Council, PMI IMPACT will provide resources for the best proposals to bring innovative and lasting solutions,” stated Alvise Giustiniani, Vice President Illicit Trade Strategies & Prevention, of PMI.
The Expert Council comprises external independent experts with impeccable credentials in the fields of law, anti-corruption and law enforcement. The experts will evaluate the project proposals that are suitable for funding.
In total, 170 organizations including government agencies, universities and research institutes, NGOs, and private entities have proposed more than 200 projects under three focus areas: research, education and awareness, and action. Submissions come from 42 countries, primarily in Europe and North America.
For its first funding round, PMI IMPACT called for projects that could have an impact on illegal trade and related crimes in the European Union. Organizations based anywhere in the world were invited to apply, as long as they could demonstrate an impact within the EU, including an impact on the illegal tobacco trade.
Expressions of interest will now go through due diligence checks and quality assessment by the Expert Council. Applicants that pass this stage will be invited to submit their full proposals. The selection process will be completed by Q2 2017.
Shares of Avon Products, Inc. (NYSE:AVP) closed at $5.27 with 5.28 million shares getting traded. Post opening the session at $5.29, the shares hit an intraday low of $5.17 and an intraday high of $5.30 and the price vacillated in this range throughout the day. The company has a market cap of $2.15 billion and the numbers of outstanding shares have been calculated to be 437.02 million shares.
Avon Products, Inc. (AVP) on Sept. 8, 2016 announced the election of Jose Armario to its Board of Directors, effective September 6, 2016. Mr. Armario will serve on the Compensation and Management Development Committee.
Mr. Armario served in a variety of leadership roles at McDonald’s Corporation for nearly two decades, retiring in 2015. His roles at McDonald’s included Group President, Latin America and Canada, and President and International Relationship Partner, Latin America. Mr. Armario is credited with leading the company’s turnaround in Latin America and was responsible for driving improved business results and expansion in Canada, in addition to leading international franchising. Mr. Armario’s final role at McDonald’s was as Executive Vice President, Worldwide Supply Chain, Development and Franchising of McDonald’s Corporation. Mr. Armario was responsible for the strategy, execution and results of each department’s key goals, including $25 billion in supply chain purchases globally on a yearly basis, one billion in new store capital for growth in key markets and helping establish the right ownership strategy across all geographies.
Prior to joining McDonald’s, Mr. Armario held roles of increasing responsibility at Lenscrafters, Inc. and Burger King Corporation, where he started his career. Mr. Armario has served on the Board of USG Corporation since 2007, where he is on the Audit Committee and Compensation and Organization Committee. He also serves on the President’s Council of the University of Miami (FL). Mr. Armario earned an associate’s degree in business administration from Miami Dade College and an M.S. in professional management from the University of Miami School of Business.
“I’m delighted that Jose is joining the Avon Board,” said Sheri McCoy, Avon’s Chief Executive Officer. “He has first-hand consumer experience in many of Avon’s most important markets and his insights will be very valuable as we continue to execute our transformation plan.”
“We are very excited to welcome Jose to Avon’s Board,” said Chan W. Galbato, non-executive Chairman of the Board. “Jose brings over 30 years of global experience, having led large, complex operations, as well as having held more hands-on regional roles, including a significant focus on Latin America. This will be a great asset to Avon as we grow our business in global markets.”
Mr. Armario stated, “I am pleased to join the Board of this global, iconic brand, and look forward to working with my fellow Board members as well as the executive team during such a dynamic time. Avon’s rich history is particularly important to me personally, as my own mother spent several years as an Avon Representative upon immigrating to the United States from Cuba.”