Universal Appoints Preston Wigner As Chairman, President And CEO Effective Oct. 1, 2024; Succeeds George Freeman, III
Portfolio Pulse from Benzinga Newsdesk
Universal Corporation has announced that Preston D. Wigner will become the new Chairman, President, and CEO effective October 1, 2024, succeeding George C. Freeman, III, who will retire but assist in the transition until the fiscal year-end.
August 29, 2024 | 8:32 pm
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Universal Corporation has announced a leadership change with Preston D. Wigner set to become the new Chairman, President, and CEO, effective October 1, 2024. This transition follows the retirement of George C. Freeman, III, who will aid in a smooth transition.
The appointment of a new CEO can have varying impacts on a company's stock price. However, since the transition is planned and the outgoing CEO will assist in the transition, the immediate impact on the stock price is likely neutral. Investors may wait to see Wigner's strategic direction before reacting.
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