Universal CFO Johan Kroner to retire after 32 years with company

RICHMOND - Universal Corporation (NYSE:UVV), a company currently valued at $1.44 billion with a strong financial health score according to InvestingPro, announced Friday that Chief Financial Officer Johan C. Kroner will retire after 32 years with the global agriproducts company.

Kroner will remain in his role until a successor is appointed and will continue with Universal until July 1, 2026. After the new CFO is named, Kroner will transition to a Senior Vice President position, serving as an advisor to the CEO and supporting his replacement.

The company has initiated a search for Kroner’s successor with assistance from a global executive search firm.

"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 Preston D. Wigner, Chairman, President, and Chief Executive Officer of Universal.

Universal Corporation is a global agricultural business with operations in more than 30 countries across five continents. The company has been in operation for over 100 years, providing agricultural products and services to customers worldwide.

The announcement was made in a press release statement issued by the company.

In other recent news, Universal Corporation reported a significant 75% increase in full-year revenue, reaching $2.95 billion, despite a decline in fourth-quarter revenue and operating income. The fourth-quarter revenue fell to $702.3 million from $770.9 million in the previous year, reflecting market challenges and timing shifts in tobacco shipments. Universal also reduced its net debt by $180 million, enhancing its financial stability. The company completed a major expansion in Lancaster, Pennsylvania, to bolster its ingredients platform. Looking forward, Universal anticipates stronger demand in its tobacco segment and plans capital expenditures between $45 million and $55 million for fiscal year 2026. The company aims to grow its ingredients segment, focusing on efficiency and cost management. Universal’s management highlighted the importance of improving margins and adapting to market changes. Analysts from Davenport and Company expressed interest in Universal’s fiscal 2026 prospects, particularly regarding SG&A expenses and tobacco segment margins.

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