8-KLeadership Changes

ALTRIA GROUP, INC. 8-K Report, Executive Changes (Dec 15, 2011)

Filed December 15, 2011For Securities:MO

Summary

This Form 8-K filing from Altria Group, Inc. (MO) on December 15, 2011, primarily announces a key executive transition within its finance department. Linda M. Warren, Vice President and Controller, announced her intention to retire effective February 24, 2012. To ensure a smooth handover, the Board of Directors has appointed Ivan Feldman as her successor, effective upon Ms. Warren's retirement. Mr. Feldman's appointment comes with a defined compensation package, including a base salary of $270,000 and incentive targets for annual and long-term compensation. Investors should note that Mr. Feldman has a substantial history with the company in financial reporting roles, suggesting continuity in financial oversight. This event, while significant for internal operations, does not appear to involve major strategic or financial shifts for the company as reported in this filing.

Key Highlights

  • 1Linda M. Warren, Vice President and Controller, announced her retirement effective February 24, 2012.
  • 2Ivan Feldman has been appointed as the new Vice President and Controller, effective upon Ms. Warren's retirement.
  • 3Mr. Feldman has been with Altria Client Services Inc. since 2000, holding various financial reporting and analysis roles, most recently as Vice President and Assistant Controller.
  • 4Mr. Feldman's new role includes an annual base salary of $270,000.
  • 5His compensation package includes an annual incentive award target of 55% of base salary for 2012.
  • 6Mr. Feldman's long-term incentive plan target is set at 60% of cumulative base salary over three years, with an annual equity award target of $250,000.
  • 7Mr. Feldman will participate in the same compensation programs as other named executive officers.

Frequently Asked Questions

Ivan Feldman has been appointed as the new Vice President and Controller, effective upon Linda M. Warren's retirement on February 24, 2012.

Mr. Feldman's compensation includes an annual base salary of $270,000, an annual incentive award target of 55% of base salary for 2012, a long-term incentive plan target of 60% of cumulative base salary over three years, and an annual equity award target of $250,000.

This specific 8-K filing primarily focuses on an executive appointment due to retirement. It does not detail any major strategic shifts or new financial developments for Altria Group.

Ivan Feldman has been employed by Altria Client Services Inc. since June 2000, with extensive experience in financial reporting and analysis. He most recently served as Vice President and Assistant Controller, Financial Reporting, a position he held since 2008.