Dessi Temperley
Director at PM
Board
About Dessi Temperley
Independent non‑executive director of Philip Morris International (PMI) since 2021; age 52. Former Group CFO and Executive Board Member at Beiersdorf AG (2018–Apr 2021) and senior finance leader at Nestlé S.A. (Apr 2004–Jun 2018). Serves on PMI’s Audit & Risk Committee and is designated an SEC “audit committee financial expert.” The Board has determined she is independent under NYSE standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Beiersdorf AG | Group CFO and Executive Board Member | 2018–Apr 2021 | Retired April 2021; large-cap global public company finance leadership |
| Nestlé S.A. | Head of IR; CFO Nestlé Purina Petcare EMENA; Head of Global Planning & Performance Analysis; CFO Southeast Europe Zone; Controller CEE; Supply Chain Controller NPPE | Apr 2004–Jun 2018 | Multi‑regional finance, planning, and supply chain experience across blue‑chip multinational |
External Roles
| Company | Role | Tenure | Committees |
|---|---|---|---|
| Coca‑Cola Europacific Partners | Director | Since May 2020 | Audit Committee |
| Corbion (Netherlands) | Director | Since May 2021 | Audit; Sustainability; Remuneration |
| Cimpress (Ireland) | Director | Since Sep 2021 | Audit Committee |
Board Governance
- Independence: The Board determined Temperley is independent and has no material relationship with PMI.
- Committee assignments: Member, Audit & Risk Committee; designated SEC “audit committee financial expert.”
- Audit & Risk workload: Committee held 8 meetings in 2024.
- Board meetings and attendance: PMI held 6 regular Board meetings in 2024; all director nominees then in office attended at least 80% of the aggregate number of Board and committee meetings on which they served.
- Overboarding assessment: The Board determined Temperley’s ability to serve on PMI’s Audit & Risk Committee is not impaired by her simultaneous service on the audit committees of four public companies (including PMI); PMI’s policy requires specific assessment when an audit committee member serves on more than three public company audit committees.
Fixed Compensation (Director Pay – 2024)
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer | $125,000 | Standard non‑employee director retainer |
| Stock awards (grant‑date fair value) | $175,036 | Annual equity award; PMI granted 1,789 common shares to each non‑employee director in May 2024 |
| All other compensation | $228 | Group term life insurance premium |
| Total | $300,264 | Sum of above |
Director program structure (2024):
- Committee member retainers: None; Committee meeting fees: None; Stock options: None.
Performance Compensation (Director Program Features)
| Performance‑linked element | Status | Evidence |
|---|---|---|
| Options | None provided to non‑employee directors | “Stock Options: None” (director pay grid) |
| PSUs/Performance‑conditioned equity | Not part of director program; annual grant is common stock | PMI granted 1,789 common shares to each non‑employee director in May 2024 |
| Cash bonus/meeting fees | None | “Committee meeting fees: None; Committee member cash retainer: None” |
Other Directorships & Interlocks
| Organization | Role/Committee | Potential Interlock/Conflict Notes |
|---|---|---|
| Coca‑Cola Europacific Partners | Director; Audit Committee | No PMI‑related person transactions disclosed involving Temperley in PMI’s proxy. |
| Corbion | Director; Audit; Sustainability; Remuneration | No PMI‑related person transactions disclosed involving Temperley in PMI’s proxy. |
| Cimpress | Director; Audit Committee | No PMI‑related person transactions disclosed involving Temperley in PMI’s proxy. |
- Overboarding governance note: PMI policy requires explicit assessment if an audit committee member serves on more than three audit committees; the Board determined Temperley’s simultaneous service on four does not impair effectiveness.
Expertise & Qualifications
- Recently retired CFO of a global public company with 25+ years’ multinational experience; proven track record in strategic change and operational leadership.
- SEC “audit committee financial expert” designation at PMI.
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (PMI common) | 6,754 shares as of March 14, 2025 |
| Shares outstanding (reference) | 1,556,488,205 as of March 14, 2025 |
| Ownership as % of shares outstanding | ~0.00043% (6,754 / 1,556,488,205) |
| Deferred shares (director plan) | 6,618 deferred shares as of Dec 31, 2024 |
| Director share retention policy | Must retain PMI shares equal to at least 5x the annual cash retainer; anti‑hedging and anti‑pledging policies apply to directors. |
Governance Assessment
- Positives: Independent director; SEC “financial expert” on Audit & Risk; committee met 8x in 2024; Board attendance threshold met (≥80%); director pay mix emphasizes equity; strong share retention and anti‑hedging/anti‑pledging policies; no related‑person transactions disclosed involving Temperley. These factors support investor alignment and audit oversight quality.
- Risk monitor: Overboarding—Temperley serves on four public company audit committees including PMI; Board formally assessed and concluded no impairment under PMI’s policy (mitigating governance risk but still a monitoring consideration for audit workload and bandwidth).