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Universal names new president

Universal Corp.’s board of directors has elected George C. Freeman III to succeed Allan King as president.

World Leaf News

King will remain chairman and chief executive officer of the company.

Freeman has been with Universal since 1997. Prior to that, he was with Hunton & Williams, an international law firm.

“I am honored that the board of directors has elected me president,” said Freeman. “This is an exciting time for the company, as we renew our strategic focus on our tobacco business.”

“George has been an integral part of Universal’s leadership over the years,” said King. “George’s knowledge of the business and ability to work with a wide range of stakeholders made him the board’s choice as president. In this new role, George will assist me in overall management as we direct the company in its focus on tobacco.”

Headquartered in Richmond, Va., Universal is one of the world’s leading tobacco merchants and processors. The company recently announced that as part of its strategy for enhancing shareholder value, it has adopted a plan to sell its remaining nontobacco agri-products businesses and will focus on its core tobacco business.