PMI - CEO Camilleri made $24.5 million in 2009..

April 1, 2010 - The Associated Press has found that Philip Morris International (PMI) CEO Louis Camilleri made $24.5 million last year, about 34 percent less than the previous year as the world's second-largest cigarette seller dealt with shrinking sales and profits.



Camilleri's salary fell about 4 percent to $1.5 million, and his performance-based bonus fell 25 percent to $7.6 million. The value of his stock options and stock awards fell about 41 percent to $14.9 million.

Last year the company saw its profit fall 8 percent. It sells Marlboro and other brands overseas.

The AP calculation is based on a regulatory filing. It aims to isolate the value company board place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

Camilleri's famous statement: when asked do you advice people not to smoke, he responded: "If they're adults it's up to them." (Financial Times, January 31, 2003)

Reference: Philip Morris Intl. CEO made $24.5 million last year, ASSOCIATED PRESS - Richmond Times-Dispatch, 4/1/2010.