Altria CFO, EVP to Retire in July; Company Outlines 2025 Plan Pending Shareholder Approval

May.20

Altria Group has announced that Executive Vice President and Chief Financial Officer Steven D'Ambrosia will retire on July 31, 2025, and will be succeeded by Katie F. Patterson, currently Senior Director of External Reporting, effective August 1. In Q1 2025, the company reported a 5.7% YoY decline in revenue and a 49.4% drop in net income.

Key Points：

1.Steven D'Ambrosia, Vice President and Chief Financial Officer of Altria Group, has announced that he will retire on July 31, 2025.

2.Katie F. Patterson, currently serving as the External Reporting Senior Director for the subsidiary, will assume the position effective August 1, 2025.

3.The 2025 performance incentive plan and the 2025 non-employee director stock compensation plan were approved at the shareholders' meeting in 2025.

4.In the first quarter of the 2025 fiscal year, the company saw a net revenue of $5.259 billion, a year-on-year decrease of 5.7%; net profit was $1.077 billion, a significant year-on-year decrease of 49.4%.

According to the Daily Financial News, Altria Group has announced that its Vice President and Chief Financial Officer Steven D'Ambrosia will officially retire on July 31, 2025. He will be succeeded by Katie F. Patterson, who has been with the company since 2013 and currently serves as the Senior Director of External Reporting for a subsidiary. The new appointment will take effect on August 1, 2025.

At the annual shareholder meeting in 2025, Altria's shareholders approved the 2025 Performance Incentive Plan and the 2025 Non-Employee Director Stock Compensation Plan. Both plans are designed to provide annual and long-term incentive measures for eligible employees and directors, further driving company performance improvements.

In the first quarter of the 2025 fiscal year, Altria's revenue fell short of market expectations, with net revenue at $5.259 billion, a decrease of 5.7% year-on-year. Net revenue after deducting excise taxes was $4.519 billion, down 4.2% year-on-year. The decline in revenue was primarily driven by lower shipments in the combustible tobacco products segment. The company's net profit was $1.077 billion, a significant decrease of 49.4% year-on-year.

References:

[1] Altria Group's Shareholders Approve 2025 Incentive Plans

Also Read:

[1] Small Business Accuses Altria of Misleading Support for Bill

[2] Altria Q1 2025 Results: Net Profit Halves to $1.077 Billion; NJOY Suspension Triggers $873M Impairment

[3] Altria Halts Sales of NJOY Ace E-Cigarette Amid Patent Dispute

[4] ITC Upholds No Infringement Ruling in Juul Case

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