Universal : Management Change/Compensation - Form 8-K
December 11, 2023 at 06:03 am EST
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Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 6, 2023, the Executive Committee of the Board of Directors of Universal Corporation (the "Company") named Preston D. Wigner, age 55, as Senior Vice President of the Company effective April 1, 2024. At that time, Mr. Wigner will leave his current position of Vice President, General Counsel and Secretary, having served as Vice President since August 2007 and General Counsel and Secretary since November 2005. He has been employed with the Company since March 2003. In his new position, Mr. Wigner will be dedicated to an executive management role with the Company, and he will be responsible for various management projects and engagements.
Mr. Wigner's compensation as the Company's Senior Vice President will be determined and approved by the Company's Compensation Committee at a later date.
Universal Corporation published this content on 11 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2023 11:02:22 UTC.
Universal Corporation is a global leaf tobacco supplier. The Company is a business-to-business Agri-products supplier to consumer product manufacturers, operating in over 30 countries. Through its plant-based ingredients platform, it provides a variety of value-added manufacturing processes to produce specialty vegetable- and fruit-based ingredients as well as botanical extracts and flavorings for human and pet food end markets. It operates through two segments: Tobacco Operations and Ingredients Operations. The Tobacco Operations segment activities involve contracting, procuring, processing, packing, storing, and shipping leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products. It also provides physical and chemical product testing and smoke testing for tobacco customers. The Ingredients Operations segment provides its customers with a broad variety of plant-based ingredients for both human and pet consumption.