Universal Corporation (NYSE: UVV) announced Wednesday the appointment of Fay Manolios to its Board of Directors, effective June 1, 2025. The company also stated that Michael T. Lawton, who has served as an independent director since 2016, will retire and not stand for re-election at Universal’s 2025 Annual Meeting of Shareholders, scheduled for August 5.
Manolios brings more than 25 years of experience in strategic planning and human resources leadership. She previously held senior roles at Capital One Financial Corporation, a Fortune 100 tech-enabled financial services company, where she most recently served as Managing Vice President and Head of Total Rewards.
In that role, she led the development and implementation of a comprehensive five-year strategy for compensation and benefits. She also currently serves on the board of VCU Health, an academic medical center recognized for its healthcare innovation and patient care.
“We are pleased to welcome Fay to our Board,” said Preston D. Wigner, Chairman, President, and CEO of Universal. “Fay is an accomplished executive with deep insight into human resources and a track record for helping to develop and reward high performing organizations.
“Her expertise aligns with our commitment to setting high standards that benefit all Universal stakeholders, and we look forward to leveraging her insights as we continue to execute on our strategic initiatives across our tobacco and ingredients businesses.”
In a statement, Manolios said she was honored to join the Board at a pivotal time in the company’s continued evolution.
“Universal is an exceptional company with a track record of value creation and a commitment to supporting its employees, farming partners and communities,” she said. “I am delighted to join the Board and look forward to working alongside my fellow directors to oversee the continued execution of Universal’s strategic priorities and initiatives.”
Wigner also recognized the contributions of outgoing director Michael Lawton, who chaired Universal’s Audit Committee and provided governance leadership during a period of strategic transformation.
“I want to thank Mike for his numerous contributions and service to Universal over the past nine years,” Wigner said. “We have appreciated and benefited from his counsel as an experienced director and from his Audit Committee leadership. He has been a valued member of our Board, and we wish him the best upon his retirement.”
Lawton expressed gratitude for his tenure with the company and its continued success.
“I have enjoyed the opportunity to serve on the Universal Corporation Board for the past nine years,” said Lawton. “During that time, Universal has performed well and executed new strategies, including the creation of the Ingredients Operations segment. I wish my colleagues on the Board and the management team continued success, and I look forward to following Universal’s performance in my retirement.”
The company also announced that it will webcast its conference call on May 29, 2025, following the release of its results for fiscal year 2025 after market close on that date. The conference call will begin at 5:00 p.m. Eastern Time.
A live webcast of the conference call will be available online on a listen-only basis at http://www.universalcorp.com. A replay of the webcast conference call will be available at that site through August 29, 2025. A taped replay of the call will also be available from 8:30 p.m. Eastern Time on May 29 through June 12, 2025, at (800) 770-2030 (Playback ID: 5786366#).
All remarks made during the conference call will be current at the time of the call, and the language of the call will not be updated to reflect subsequent material developments.
While news media representatives will not be able to ask questions during the webcast, they are welcome to monitor the remarks on a listen-only basis. The use of any comments made by Universal employees or other participants during the call will be restricted for background use only and not for attribution.
