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2026 Virginia Power 50 List: WILLIAM F. ‘BILLY’ GIFFORD JR.
CEO, ALTRIA GROUP, HENRICO COUNTY
Virginia Business //March 1, 2026//
Altria CEO Billy Gifford plans to retire in 2026. Photo Courtesy Altria
Altria CEO Billy Gifford plans to retire in 2026. Photo Courtesy Altria
2026 Virginia Power 50 List: WILLIAM F. ‘BILLY’ GIFFORD JR.
CEO, ALTRIA GROUP, HENRICO COUNTY
Virginia Business //March 1, 2026//
Late last year, Gifford announced his retirement as Altria‘s CEO, effective in May, after six years at the Fortune 500 tobacco giant’s helm and 32 years after joining the company. Salvatore “Sal” Mancuso, Altria’s executive vice president and CFO, has been tapped to succeed Gifford, who plans to remain at Altria as a consultant through the end of this year.
Altria’s operating companies, in addition to Philip Morris USA, are U.S. Smokeless Tobacco, John Middleton, Helix Innovations and NJOY, as well as Horizon Innovations, its majority-owned joint venture with JT Group.
In January 2025, the U.S. International Trade Commission finalized a ruling that NJOY Ace, a pod-based e-vapor product authorized by the Food and Drug Administration, infringes on four patents held by Juul Labs. Altria halted all domestic sales last spring, but Gifford said the company intends to appeal the decision.
Altria reported $24 billion in revenue for 2024, down nearly 2% from 2023. Gifford joined the Society of St. Vincent de Paul Richmond Council board at the start of 2025.
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