Altria CEO Billy Gifford to Retire; Sal Mancuso Named Successor

Dec.12

Altria Group, Inc. (NYSE: MO) announced that CEO Billy Gifford will retire at the conclusion of the 2026 Annual Meeting of Shareholders on May 14, 2026, after more than 30 years with the company. The Board of Directors has elected Salvatore (Sal) Mancuso, Altria’s current Executive Vice President and CFO, to succeed him as CEO.

Key Points

• Retiring CEO: Billy Gifford – effective May 14, 2026
• Incoming CEO: Salvatore (Sal) Mancuso, EVP & CFO since 2020
• Incoming CFO: Heather Newman, Chief Strategy and Growth Officer
• Board Chair: Kathryn McQuade
• Strategic focus: Advancing Altria’s 2028 Enterprise Goals and “Moving Beyond Smoking®” vision
• Transition timeline: Effective after 2026 Annual Meeting of Shareholders

2Firsts, December 12,2025 – According to Altria Group, Inc.,which announced that CEO Billy Gifford will retire effective May 14, 2026, following the company’s 2026 Annual Meeting of Shareholders, marking the end of a 30-year career with Altria.

The Board of Directors has elected Salvatore (Sal) Mancuso, Altria’s current Executive Vice President and Chief Financial Officer, to succeed Gifford as CEO. Gifford will remain as a consultant through the end of 2026 to support leadership transition.

Additionally, Heather Newman, Altria’s Chief Strategy and Growth Officer since March 2022, will assume the role of Chief Financial Officer effective May 14, 2026.

Board Chair Kathryn McQuade said: “Sal has deep industry knowledge, strong leadership skills, and a results-driven mindset aligned with Altria’s 2028 Enterprise Goals. His election reflects our rigorous succession planning and assessment of both internal and external candidates.”

She added, “The Board is immensely grateful for Billy’s extraordinary leadership, which guided Altria through challenging times while maintaining financial strength and shareholder value.”

Gifford stated: “It has been an honor to lead this company. I’m proud of our progress and confident in Sal’s leadership to take Altria forward. I look forward to spending more time with family and contributing to my community.”

Incoming CEO Sal Mancuso commented: “I’m humbled to serve as Altria’s next CEO. I look forward to building on Billy’s legacy and accelerating our transformation as we continue Moving Beyond Smoking®.”

Image source: Altria Group, Inc.

References:

[1] Altria Group, Inc. Announces Retirement of CEO Billy Gifford and Appointment of Sal Mancuso as Successor

Also Read:

[1] Altria Director George Muñoz to Retire After 2026 Shareholder Meeting;

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