Universal Corporation (NYSE: UVV) has announced changes to its board of directors, with the appointment of Fay Manolios and the retirement of Michael T. Lawton. Manolios brings over 25 years of experience in strategy development and human resources, having held increasing roles of responsibility at Capital One Financial Corporation. She is set to join the board effective June 1, 2025. On the other hand, Lawton, who has served as an independent director since 2016, has decided to retire and will not stand for re-election at the company's 2025 annual meeting of shareholders to be held on August 5, 2025.
Preston D. Wigner, the Chairman, President, and CEO of Universal Corporation, expressed his pleasure in welcoming Manolios to the board, highlighting her expertise in human resources and track record for helping to develop and reward high performing organizations. Wigner also thanked Lawton for his contributions and service to Universal over the past nine years, acknowledging his counsel as an experienced director and his leadership in the audit committee.
Manolios stated, "Universal is an exceptional company with a track record of value creation and a commitment to supporting its employees, farming partners, and communities." She expressed her delight in joining the board and looks forward to working alongside her fellow directors to oversee the continued execution of Universal’s strategic priorities and initiatives.
On the other hand, Lawton expressed his enjoyment in serving on the Universal Corporation board for the past nine years, citing the company's performance and execution of new strategies during his tenure. He wished the board and the management team continued success and stated he looks forward to following Universal’s performance in his retirement.
Universal Corporation, a global agricultural company with over 100 years of experience, supplies products and innovative solutions to meet customers’ evolving needs and precise specifications. The company operates in more than 30 countries on five continents and is known for being a trusted provider of high-quality, traceable products. Universal Corporation leverages its extensive supply chain expertise, global reach, integrated processing capabilities, and commitment to sustainability to provide a range of products and services designed to drive efficiency and deliver value to its customers. As a result of these announcements, the company's shares have moved 1.21% on the market, and are now trading at a price of $59.31. For the full picture, make sure to review UNIVER's 8-K report.
