Universal Corporation Appoints Steven S. Diel as Senior Vice President and Chief Financial Officer
Appointment Effective April 1, 2026
Universal Corporation (NYSE: UVV) (“Universal” or the “Company”), a leading global business-to-business agriproducts company, today announced the appointment of Steven S. Diel as Senior Vice President and Chief Financial Officer, effective April 1, 2026. Mr. Diel will assume responsibility for leading Universal’s global finance organization and supporting the Company’s continued execution of its long-term growth and value creation strategy.
The appointment reflects Universal’s commitment to disciplined financial management, strategic execution, and leadership continuity as the Company advances its global agriproducts platform across tobacco, ingredients, and related value-added businesses.
A Proven Leader with Deep Industry and Financial Expertise
Mr. Diel brings more than 25 years of experience across finance, corporate development, and business strategy, with a strong track record of delivering results in complex, global organizations. His background combines rigorous financial discipline with hands-on operational insight, positioning him well to guide Universal’s financial strategy during its next phase of growth.
Since joining Universal in 2018, Mr. Diel has played a critical role in shaping the Company’s strategic direction and expanding its business portfolio. Most recently, he served as Vice President and Chief Financial Officer of Universal Ingredients, where he oversaw financial operations for the Company’s fast-growing ingredients segment and contributed meaningfully to performance optimization and strategic alignment.
Key Contributions Since Joining Universal Corporation
Mr. Diel joined Universal Corporation as Vice President of Business Development, where he led the Company’s financial planning and analysis (FP&A) and corporate development functions. In this role, he was instrumental in executing a series of strategic acquisitions totaling more than $350 million, which helped establish and scale Universal’s ingredients segment.
These acquisitions significantly diversified Universal’s revenue base and enhanced its ability to deliver value-added solutions to customers worldwide. Through this work, Mr. Diel developed a deep understanding of Universal’s tobacco and ingredients businesses, global operations, and customer relationships.
His leadership helped integrate newly acquired businesses, align financial processes, and strengthen enterprise-wide decision-making. Over time, his contributions demonstrated an ability to balance growth initiatives with disciplined capital allocation and risk management.
Promotion Reflects Longstanding Impact and Strategic Insight
Mr. Diel’s recent promotion to Vice President and CFO of Universal Ingredients recognized the meaningful impact he has made throughout his tenure with the Company. In that role, he supported operational leaders with financial insights, strengthened internal controls, and helped guide investment priorities to support sustainable growth.
Universal noted that Mr. Diel’s promotion to Chief Financial Officer reflects not only his technical expertise, but also his ability to partner effectively with senior leadership, operational teams, and the Board of Directors. His collaborative leadership style and strategic mindset have earned him the trust of colleagues across the organization.
Leadership Commentary
Commenting on the appointment, Preston D. Wigner, Chairman, President, and Chief Executive Officer of Universal Corporation, said:
Steve is a trusted Universal leader with significant financial expertise, a strong command of our business, and a proven record of strategic execution. His appointment as CFO reflects our confidence in his ability to lead our global finance organization, strengthen enterprise performance, and drive long-term value creation.
Mr. Wigner added:
I look forward to partnering with Steve as he steps into this role and helps accelerate our strategy and unlock additional value for our shareholders.
Mr. Diel’s Perspective on His New Role
In response to his appointment, Mr. Diel expressed appreciation for the opportunity to serve in the role of Chief Financial Officer and emphasized his commitment to supporting Universal’s global teams.
I am honored to become the CFO of Universal and look forward to building on the strength of our finance organization and supporting the continued execution of our strategy, said Mr. Diel.
He continued:
I have seen firsthand the talent, discipline, and commitment that power Universal’s global finance teams and drive results across our business. I look forward to partnering with Preston, executive management, the Board, and our finance teams around the world to advance our momentum as a global agriproducts leader.
Planned CFO Transition Ensures Continuity
As previously announced in July 2025, Johan C. Kroner, the Company’s current Senior Vice President and Chief Financial Officer, will remain with Universal as a Senior Vice President until July 1, 2026. During this period, Mr. Kroner will serve as an advisor to Mr. Wigner and support a smooth and orderly transition of CFO responsibilities to Mr. Diel.
This structured transition underscores Universal’s focus on continuity, stability, and effective leadership succession, ensuring minimal disruption to financial operations and strategic initiatives.
Appreciation for Johan C. Kroner’s Service
Mr. Wigner expressed his gratitude for Mr. Kroner’s long-standing service and leadership, stating:
I deeply appreciate Johan’s continued support during his tenure and wish him all the best in his well-deserved retirement.
Mr. Kroner’s contributions have played a significant role in strengthening Universal’s financial foundation and positioning the Company for long-term success.
Strengthening Universal’s Financial Leadership for the Future
With Steven S. Diel’s appointment as Chief Financial Officer, Universal Corporation reinforces its commitment to disciplined growth, operational excellence, and shareholder value creation. His extensive experience, deep institutional knowledge, and strategic insight are expected to support the Company as it continues to evolve as a leading global agriproducts business.
The Company remains focused on executing its strategy across diversified markets while maintaining strong financial governance and long-term sustainability.
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