Altria said director Jacinto J. Hernandez notified the company on February 23, 2024 that he was retiring from its Board of Directors, effective immediately.

1. 01

   Altria said director Jacinto J. Hernandez notified the company on February 23, 2024 that he was retiring from its Board of Directors, effective immediately.

2. 02

   Altria said it entered into an agreement with Mr. Hernandez in connection with his retirement, under which he will provide strategic advisory services for 5 years and Altria will pay him an annual consulting fee of $300,000.

3. 03

   The company said Kathryn McQuade, its independent Board Chair, stated that the Board benefited from his industry experience and financial expertise, and Mr. Hernandez said the agreement will let him focus on working directly with management to help Altria pursue its Vision.

4. 04

   Altria said Mr. Hernandez is the founder and principal of Cummings Consulting & Management, and that he joined the Capital Group companies in August 2000 and retired in June 2022 after 22 years covering industries including U.S. tobacco. The company also said he is a director of Aris Water Solutions, Inc.

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