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Universal Corporation Announces Leadership Succession Plan
Slice of Agriculture Team
September 03, 2024
Key Highlights:
Preston D. Wigner to become Chairman, President, and CEO on October 1, 2024.
George C. Freeman, III to retire and serve as Senior Advisor until March 31, 2025.
Leadership transition aims to sustain growth in tobacco and ingredients businesses.
Source (PR Newswire)
Notable Quotes:
"George has played a critical role in shaping Universal into the company it is today, and we are grateful for his tremendous leadership."
"It is a privilege to be named Chairman, President, and CEO of Universal at this exciting time in the Company's 100-plus year history."
"We have made incredible advances in the 27 years I have been with Universal, and I thank our talented employees around the world who work tirelessly for all our stakeholders."
Our Take:
The leadership transition at Universal Corporation marks a significant milestone in the company's history. With Preston D. Wigner stepping into the role of Chairman, President, and CEO, the company is poised to continue its momentum in both its traditional tobacco business and the expanding ingredients sector. Wigner's deep industry experience and long tenure with Universal position him well to drive forward the company's strategic goals. George C. Freeman, III’s legacy will undoubtedly leave a strong foundation for the new leadership to build upon, ensuring continued value creation for shareholders and sustained global operations.