Suzanne Rich Folsom, senior vice president and general counsel at Philip Morris International Inc.

Tobacco giant Philip Morris International Inc. announced Thursday the appointment of corporate lawyer Suzanne Rich Folsom as the company's senior vice president and general counsel, taking over the company's legal, ethics and compliance department effective July 1.

Philip Morris said Folsom replaces Marc Firestone, who plans to retire later this year. As general counsel, Firestone also held the role of president of external affairs. He will continue in the external affairs role until a successor is found.

The company in its release called Folsom "a results-oriented business leader with decades of broad international experience and a track record of successfully driving transformation within public and private corporations during periods of heightened regulatory and public scrutiny.

"She is highly regarded for her ability to solve complex business challenges and has been recognized for her integrity, innovative thinking, consensus-building, and crisis management skills," the company continues. "She is an internationally recognized corporate governance expert who has created and implemented award-winning legal, regulatory, and compliance programs, driving stability and enhancing corporate reputations."

Folsom will be based in Lausanne, Switzerland. She was recognized by Corporate Counsel's sister publication The National Law Journal as one of the Top 50 General Counsels and as a Cyber Trailblazer.

She comes to the Philip Morris position from the Washington, D.C., office of Manatt, Phelps & Phillips, where she co-chaired the investigations, compliance and strategic response group and was a member in the government and regulatory and cyber and privacy groups. Before that, she was the general counsel, chief compliance officer and senior vice president of government affairs and global public policy at United States Steel Corp.

Philip Morris said one of the functions of Folsom's new role will be to serve as the company's ambassador in the legal and regulatory sectors. This comes at a time the company has announced its intention to transition to smoke-free products.

"Suzanne Rich Folsom comes to us with a reputation as one of the most highly regarded and experienced general counsels and compliance and corporate governance specialists, having operated in very complex business environments," said CEO André Calantzopoulos.

"She is a champion of inclusion and diversity who has established a reputation for diligence, courage, integrity and an unwavering commitment to ethical conduct," he added. "Her vast knowledge and ability to inspire the best in the people with whom she interacts will be a tremendous asset to PMI as we continue our corporate transformation and progress toward a better, smoke-free future. We are delighted to have her on our team."