Universal Corporation Announces Leadership Change in Finance Division
Universal Corporation (NYSE: UVV), a global leader in business-to-business agriproducts, has officially announced the upcoming retirement of Johan C. Kroner, who currently serves as the Company’s Senior Vice President and Chief Financial Officer (CFO). Mr. Kroner plans to step down from his CFO duties but will continue supporting the company through a structured leadership transition.
After an impressive tenure spanning more than 30 years with Universal, Mr. Kroner will retire from the Company on July 1, 2026. Until then, he will continue playing an integral role in the organization’s executive team to ensure a seamless handover of responsibilities. Mr. Kroner will remain in his role as CFO until a successor is identified and appointed. Following that, he will continue to serve as Senior Vice President and act as a strategic advisor to the Chief Executive Officer while supporting the incoming CFO throughout the remainder of his time at the Company.
Universal Corporation has already begun the process of identifying a new CFO to take over the reins. To assist with this important executive search, the Company has engaged the services of a globally recognized executive search firm. The search will focus on finding a candidate who not only brings strong financial acumen but also aligns with Universal’s corporate values and long-term business strategy.
Preston D. Wigner, Chairman, President, and Chief Executive Officer of Universal, expressed his appreciation for Mr. Kroner’s many years of leadership and service. “On behalf of everyone at Universal, I want to thank Johan for his many contributions over his more than three decades with the Company, and in particular his seven years as CFO,” said Wigner. “Johan has made a meaningful impact on Universal and our global finance organization. We are fortunate to continue benefitting from his expertise and institutional knowledge over the next year.”
Under Mr. Kroner’s leadership as CFO, Universal has maintained a strong financial foundation, navigated complex global markets, and supported strategic growth initiatives. His financial stewardship has played a vital role in enabling the Company to achieve operational efficiencies, drive shareholder value, and enhance its position as a leading supplier of leaf tobacco and plant-based ingredients for industrial and consumer products.
Mr. Kroner joined Universal Corporation early in his career and steadily progressed through a series of leadership roles, gaining experience across multiple financial disciplines. His deep understanding of the global agricultural supply chain and his ability to manage financial operations across diverse markets have been instrumental in guiding the Company through changing industry landscapes.
Throughout his time at Universal, Mr. Kroner has been widely respected for his disciplined approach to financial management, his collaborative leadership style, and his commitment to building strong internal teams. As CFO, he has overseen a broad array of financial functions, including accounting, treasury, investor relations, risk management, and global reporting. His leadership has been critical during periods of market volatility, business transformation, and regulatory change.
As part of the transition, Mr. Kroner will continue working closely with Mr. Wigner and other members of the executive leadership team to ensure the continued stability and strength of Universal’s financial organization. In his advisory role, he will provide strategic insights and guidance to support the new CFO’s onboarding process and ensure a deep understanding of the Company’s financial systems, operations, and priorities.
The announcement of Mr. Kroner’s retirement comes at a time of ongoing growth and diversification for Universal. The Company has expanded its portfolio to include value-added plant-based ingredients while maintaining its leadership in leaf tobacco. In recent years, Universal has focused on broadening its agriproducts business by leveraging its global supply chain, sustainability practices, and agricultural expertise. The financial organization has been central to this strategy, and Mr. Kroner’s contributions have helped position the Company for long-term success.
Universal expects to name a successor in the coming months, allowing for an orderly and well-supported transition. The incoming CFO will be tasked with building on the strong foundation Mr. Kroner has established, leading the finance function through the next phase of the Company’s growth.
As the Company prepares for this leadership change, it remains committed to maintaining the highest standards of financial discipline, transparency, and shareholder value. Universal’s executive team and Board of Directors express their gratitude for Mr. Kroner’s many years of service and look forward to his continued contributions during the transition period.
Universal Corporation, headquartered in Richmond, Virginia, is a leading global supplier of leaf tobacco and a growing provider of plant-based ingredients. The Company partners with customers across the world to provide high-quality agricultural products and services that meet rigorous standards for traceability, sustainability, and quality.
