Universal Corporation announced the appointment of Preston D. Wigner as Chairman, President, and CEO effective October 1, 2024, while George C. Freeman, III will retire from these roles but continue as Vice Chair until December 31, 2024, and as Senior Advisor until March 31, 2025; Wigner's salary will be $800,000 with additional bonuses and stock awards, while Freeman's salary will be adjusted to $670,000 during his transition period.