Universal CFO David Moore leaves

  • Push-out Score suggests push-out forces
  • After 10 years in the position
  • Praise, thanks and words of regret for Moore
  • Johan Kroner taking over
  • Moore said 63 words

(exechange) — Richmond, Virginia, February 8, 2018 — David Moore, finance chief of Universal, leaves. His departure is made public at an early stage. As announced by Universal Corporation in a news release on Thursday, February 8, 2018, David C. Moore leaves his post as Chief Financial Officer at the leaf tobacco supplier after 10 years in the position, effective August 31, 2018.

It is the end of an era.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.1 years, according to data compiled by exechange.

Moore’s duties will be taken over by Johan Kroner, currently Senior Vice President of Universal Corporation.

No reason given

In the announcement, Universal did not explicitly explain the reason for Moore’s move, opening the door for speculation.

Precise information about Moore’s future plans was not immediately available.

“Retire”

Universal said: “David C. Moore, Senior Vice President and Chief Financial Officer of Universal Corporation …, has announced his plans to retire effective August 31, 2018.”

Share price decline

The change follows a decline in the share price of Universal Corporation since April 2017.

Chaired by George C. Freeman, III

Universal Corporation is chaired by George C. Freeman, III.

In the position of CFO since 2008

David C. Moore has been the Chief Financial Officer and Senior Vice President of Universal Corp., since September 2008.

Moore has been with Universal since 1978 and has served as Chief Financial Officer since 2008.

He began his career in the areas of finance and international operations and became Vice President and Chief Administrative Officer in 2006.

Prior to that, Moore was responsible for oversight of the Company’s administrative offices in Europe from 1999 to 2005.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered David Moore’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 7.2018 ($).