Altria Group announced that CEO Billy Gifford will retire following the company’s 2026 Annual Meeting of Shareholders on May 14, ending a more than 30-year career with the company. Gifford, who has led the company since 2020, plans to remain as a consultant through at least the end of 2026 to support a smooth leadership transition. Company leaders praised Gifford for steering Altria through a turbulent period and emphasized continuity in advancing the company’s “Moving Beyond Smoking” strategy under the incoming leadership team.
The board has elected Salvatore “Sal” Mancuso, currently Altria’s executive vice president and chief financial officer, to succeed Gifford as CEO. Mancuso joined Philip Morris USA in 1990 and has held senior roles across strategy, finance, and compliance. Board Chair Kathryn McQuade said his selection followed a long-term succession process evaluating both internal and external candidates.
Heather Newman, Altria’s chief strategy and growth officer, has been named the company’s next CFO, also effective at the 2026 Annual Meeting. Newman, who joined Altria in 1999, previously served as president and CEO of Philip Morris USA.
