Universal Corporation (NYSE: UVV) has announced the retirement of Johan C. Kroner, the Senior Vice President and Chief Financial Officer (CFO), after 32 years with the company. Kroner will continue as CFO until a successor is appointed, and subsequently, he will serve as an advisor to the Chief Executive Officer and provide support to the new CFO until his retirement on July 1, 2026.
The company has initiated a search process to identify Kroner's successor with the assistance of a global executive search firm. Preston D. Wigner, Chairman, President, and Chief Executive Officer of Universal, expressed gratitude for Kroner's contributions over his more than three decades with the company, particularly during his seven years as CFO, and expressed the company's fortune in continuing to benefit from his expertise and institutional knowledge over the next year.
Universal Corporation, a global agricultural company with over 100 years of experience, operates in more than 30 countries on five continents. The company supplies high-quality, traceable products and innovative solutions to meet its customers’ evolving needs and precise specifications, leveraging 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. The market has reacted to these announcements by moving the company's shares -0.15% to a price of $58.41. For more information, read the company's full 8-K submission here.
