Calantzopoulos was formerly on the advisory board of the American European Community Association (AECA). The AECA has 67 company members including British American Tobacco, Imperial Tobacco, Japan Tobacco International and Philip Morris, and the advisory board is comprised of individuals from business and politics.
Calantzopoulos was a Board member of SMPM International, a joint venture between PMI and Swedish Match which was established in 2009 to commercialise the smokeless tobacco product, snus, outside of Scandinavia and the United States. This joint venture was dissolved in 2015.
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