Altria has announced Howard Willard’s retirement as Chairman of the Board of Directors (Chairman) and Chief Executive Officer (CEO) of Altria, effective April 14, 2020.

Willard, who was recovering from COVID-19, decided to step down following 28 years of distinguished service to Altria and its subsidiaries. Following Willard’s retirement, Altria’s Board of Directors elected Billy Gifford to serve as Altria’s CEO.
According to the press release, Gifford has served in numerous senior leadership roles during his more than 25-year career at Altria, including most recently Vice Chairman and Chief Financial Officer where he was responsible for Altria’s financial functions as well as its core tobacco businesses, sales and distribution business, and Consumer & Marketplace Insights team.
Altria also announced the Board’s decision to separate the roles of Chairman and CEO. The Board elected Thomas Farrell, formerly the Board’s independent Presiding Director, as independent Chairman of the Board, effective April 16, 2020, the press release said.
“The Board thanks Howard for his nearly 30 years of distinguished service to Altria and for helping to set the course for Altria’s 10-year vision to responsibly lead the transition of adult smokers to a non-combustible future,” said Farrell. “Our election of Billy as the next CEO reflects the Board’s belief that his collaborative leadership style, strategic mindset and deep financial and industry expertise are right to lead Altria towards that future.”