Altria Group announced that its CEO, Billy Gifford, will retire after the shareholders’ meeting on May 14, 2026. The board of directors has appointed the current Executive Vice President and Chief Financial Officer, Sal Mancuso, to succeed as CEO, and Heather Newman, the Chief Strategy and Growth Officer, will take on the role of the new CFO. To ensure a smooth transition, Gifford will serve as a company advisor until the end of 2026.
Key Points Summary
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Company: Altria Group, Inc. (NYSE: MO)
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Current CEO: Billy Gifford — retiring May 14, 2026
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New CEO: Sal Mancuso
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New CFO: Heather Newman
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Handover Date: May 14, 2026, after the 2026 Annual General Meeting
Official Announcement from Altria Group
December 12, 2025 — According to the official website of Altria Group, Inc., Billy Gifford, the CEO of Altria, will retire after the annual shareholders’ meeting on May 14, 2026.
Sal Mancuso Appointed as New CEO
The company’s board of directors simultaneously elected the current Executive Vice President and Chief Financial Officer, Salvatore “Sal” Mancuso, to take over the position of CEO, effective upon Gifford’s retirement. To ensure a smooth transition, Gifford will serve as a consultant for the company until the end of 2026.
Heather Newman to Become CFO
Furthermore, the board announced that the current Chief Strategy and Growth Officer, Heather Newman, will assume the role of Chief Financial Officer starting from May 14, 2026.
Board Highlights Succession Planning
Board Chairperson Kathryn McQuade stated that Mancuso’s appointment was part of the company’s long-term succession plan and underwent rigorous third-party evaluation. She commented: “Sal has profound industry knowledge, strategic vision, and strong execution capability. He is well-positioned to lead the company toward achieving its 2028 corporate goals.”
Outgoing CEO Reflects on His Tenure
Gifford stated in his announcement: “It is an honour to lead Altria. Over the past five years, we have made significant progress. I believe that under Sal’s leadership, the company will continue moving forward. After retirement, I will focus on my family and public welfare.”
Incoming CEO Commits to Continued Transformation
Incoming CEO Mancuso said: “I am deeply honoured to take over as CEO. I will continue and accelerate the company’s transformation and lead the team to realise the vision of ‘Moving Beyond Smoking®.”
