Summary
Altria Group, Inc. (MO) has announced significant leadership changes effective May 14, 2026, following its 2026 Annual Meeting of Shareholders. Current CEO William F. Gifford, Jr. will retire after over 30 years of service, including more than five years as CEO, and will not seek reelection to the Board. This transition marks the end of an era for the company's leadership. In succession, the Board has elected Salvatore Mancuso, currently Executive Vice President and CFO, to the role of CEO. Heather A. Newman, Senior Vice President and Chief Strategy & Growth Officer, will be appointed Executive Vice President and CFO. Both individuals have long tenures with Altria and its subsidiaries, bringing extensive internal experience to their new roles. The company also disclosed that Mr. Gifford will serve as a consultant through at least the end of 2026 to ensure a smooth handover.
Key Highlights
- 1William F. Gifford, Jr. to retire as CEO and director effective May 14, 2026.
- 2Salvatore Mancuso, current CFO, appointed as the new CEO, effective May 14, 2026.
- 3Heather A. Newman, Chief Strategy & Growth Officer, appointed as new CFO, effective May 14, 2026.
- 4Both new appointees have extensive internal experience with Altria, with Mr. Mancuso employed since 1990 and Ms. Newman since 1999.
- 5Mr. Gifford will continue to serve as a consultant to Altria through at least the end of 2026.
- 6Heather A. Newman received a special grant of $1,500,000 in restricted stock units (RSUs) vesting in November 2030.