Altria CEO Confirms COVID-19 Infection

It is reported that Altria's Vice Chairman and CFO, William Gifford, is temporarily taking over his duties. The company did not specify who would succeed Gifford in his two roles. He has held both positions since May 2018 and has been with the company since 1994.

This news comes as the company was already struggling before the outbreak of the coronavirus.

The company is heavily involved with the controversial and troubled e-cigarette manufacturer Juul Labs (in which it holds a 35% stake), forcing the company to take on billions in impairment charges. These factors have affected its fundamentals, subsequently impacting investor confidence in its stock.

As a result, Willard has faced some pressure. Last month, Altria revealed that according to his annual incentive plan with the company, he would not receive any compensation.