05:15 PM EDT, 08/29/2024 (MT Newswires) -- Universal (UVV) named Preston Wigner as chairman, president and chief executive officer, effective Oct. 1.

Wigner, 55, succeeds George Freeman III in the three positions, the company said Thursday in a regulatory filing.

Wigner currently is senior vice president. Freeman, who notified the board of his retirement on Friday, will remain as vice chair through Dec. 31 and serve as a senior adviser through March 31, the company said.

The CEO appointment "is the culmination of a succession planning process conducted by the board and assisted over the last two years by a global leadership advisory firm," the company said.

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