01—Abstract
Summary
Summary of the 8-K filed December 11, 2025. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- William F. Gifford, Jr. to retire as CEO and director effective May 14, 2026.
- Salvatore Mancuso, current CFO, appointed as the new CEO, effective May 14, 2026.
- Heather A. Newman, Chief Strategy & Growth Officer, appointed as new CFO, effective May 14, 2026.
- Both new appointees have extensive internal experience with Altria, with Mr. Mancuso employed since 1990 and Ms. Newman since 1999.
- Mr. Gifford will continue to serve as a consultant to Altria through at least the end of 2026.
- Heather A. Newman received a special grant of $1,500,000 in restricted stock units (RSUs) vesting in November 2030.
03—Questions
Frequently Asked Questions
When will the leadership changes take effect?
The leadership changes, including the retirement of the current CEO and the appointments of the new CEO and CFO, will be effective on May 14, 2026, at the conclusion of Altria's 2026 Annual Meeting of Shareholders.
What is the background of the incoming CEO, Salvatore Mancuso?
Salvatore Mancuso, age 60, has been with Altria or its subsidiaries in various capacities since 1990. He has served as Altria's Executive Vice President and CFO since 2020, bringing significant financial and operational experience to the CEO role.
What is the background of the incoming CFO, Heather A. Newman?
Heather A. Newman, age 48, has been employed by Altria or its subsidiaries since 1999. She has held roles such as Senior Vice President, Chief Strategy & Growth Officer since March 2022 and previously Senior Vice President, Corporate Strategy. Her experience includes strategy and growth initiatives.
Will William F. Gifford, Jr. remain involved with Altria after his retirement?
Yes, William F. Gifford, Jr. is expected to serve as a consultant to Altria upon his retirement through at least the end of 2026 to facilitate a smooth transition.
04—Continue