CFO Johan Kroner retires from Universal Corporation after 32 years of experience and remains as an advisor until a successor is found.

Chief Financial Officer Johan C. Kroner retires after 32 years of service with Universal Corporation (NYSE: UVV), an international leader in agricultural services and goods. Kroner will continue as CFO until a new CFO is appointed and as the Senior Vice President, in an advising role.

To find an alternative, the business has partnered with a worldwide executive search firm. Throughout the seven years of service, Kroner played a major role in Universal's worldwide finance and expansion. "Kroner had a major influence on our business," stated Preston D. Wigner, Universal's chairman, president, and CEO. "We respect his leadership and guidance he provided us over the years."

Currently valued at $1.44 billion, Universal has over 100 years of business experience and works in 30 countries. Business recently announced its yearly revenue that has increased by 75% to $2.95 billion. Despite this excellent success, shifting marketplace conditions and difficulties in tobacco shipping planning led revenue to drop from $770.9 million to $702.3 million in the fourth quarter.

The business improved its financial standing by reducing its total debt by $180 million. To continue to serve its growing ingredients section, the business also completed its major factory expansion in Lancaster, Pennsylvania. Universal expects a higher demand for its tobacco operations during fiscal year 2026 and has allocated between $45 million and $55 million for capital expenditures. Also working to raise earnings and reduce costs.

Universal is preparing for the next level of development as the leadership transition gets underway. Focusing on development and also adapting to the changing marketplace conditions. In an excellent position to strengthen its core business and explore exciting opportunities in the years ahead.