Altria Group, Inc.
Altria Group Appoints New CEO and CFO, Details Compensation for Former CEO
Summary
Altria Group, Inc. announced the appointment of Salvatore Mancuso as the new Chief Executive Officer (CEO) and Heather A. Newman as the new Chief Financial Officer (CFO) effective May 14, 2026, following the conclusion of the Annual Meeting of Shareholders. The Compensation and Talent Development Committee set Mr. Mancuso's annual base salary at $1,350,000 and approved a grant of 40,634 restricted stock units (RSUs) and 37,246 performance stock units (PSUs). Ms. Newman's annual base salary was set at $800,000. Additionally, the Compensation Committee approved a payment under the annual incentive award plan of $995,822 for the retiring CEO, William F. Gifford, Jr., and cash payments for his unvested RSU and PSU awards totaling $6,859,062 and $7,837,712 respectively. Mr. Gifford will also serve as a consultant to Altria through December 31, 2026, earning $250,000 per month.
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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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