Altria Group, Inc.
Altria Announces Board Expansion and New Share Repurchase Program
Summary
On January 29, 2025, Altria Group, Inc. expanded its Board of Directors by electing Richard S. Stoddart, effective February 3, 2025. Stoddart has been appointed to the Audit, Innovation and Nominating, Corporate Governance and Social Responsibility Committees. The Board also authorized a new $1 billion share repurchase program. The timing and specific details of the repurchases will be determined by the Board based on market conditions and other factors.
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About Altria Group, Inc.
Altria Group, Inc. is a holding company with a primary focus on the manufacture and sale of cigarettes and related products. Serving as a leading player in the tobacco industry, Altria is best known for its premium cigarette brand, Marlboro, which holds a significant market share in the United States. Beyond cigarettes, the company has established a diversified portfolio by investing in smokeless tobacco products, wine via its subsidiary Ste. Michelle Wine Estates, and a stake in the cannabis market through its investment in Cronos Group. Altria's strategic expansions into non-cigarette categories reflect its aim to navigate changing consumer preferences and regulatory landscapes. As one of the foremost publicly traded entities in its sector, Altria plays a significant role in the broader consumer goods market. The company continues to engage with shifting market dynamics by fostering innovation in reduced-risk products while maintaining its strong presence in traditional tobacco markets.
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