Papastratos to be transformed into Phillip Morris hub for SE Europe

Greece-based Papastratos, a subsidiary of tobacco multinational Phillip Morris, on Tuesday announced that it is transforming into an administrative center and hub for its parent company’s activities in southeast Europe.

Additionally, Papastratos Chairman and Managing Director Christos Harpantidis has been tapped to head up the new scheme, with the latter assuming the title of Phillip Morris vice-president for Europe, with responsibility for 12 national markets in southeast Europe, with the headquarters being in Greece.

With the restructuring, Papastratos is expected to oversee an annual turnover exceeding five billion USD, with the operation of three manufacturing plants and a workforce of more than 4,000 employees.