Universal Corporation On February 3, 2026, the Board of Directors of the Company elected Steven S. Diel as the Company?s Chief Financial Officer, effective April 1, 2026 (the ?Effective Date?). Johan C. Kroner, who previously notified the Company of his intention to retire as Chief Financial Officer of the Company, effective on July 1, 2026, will step down as the Company?s Senior Vice President and Chief Financial Officer as of the Effective Date. In order to support a smooth transition of leadership, Mr. Kroner will remain with the Company as a Senior Vice President until the effective date of his retirement.
Mr. Diel, age 54, has served as Vice President and Chief Financial Officer for the Company?s Ingredients segment since January 2026. Prior to assuming this role, Mr. Diel served as Vice President, Business Development, for the Company since May 2018. From 2016 through April 2018, Mr. Diel served as Chief Financial Officer of Elitefts.com Inc., a privately held fitness equipment retail and distribution company, and from 2014 through 2016, he served as Senior Manager - Financial Planning & Analysis at Chicago Bridge & Iron Company N.V. Mr. Diel holds an MBA from the Indiana University Kelley School of Business and a B.S. in Business Administration from Eastern Illinois University.
As previously announced, Johan C. Kroner will retire from his role as CFO effective February 17, 2026, and will remain a Senior Vice President of the Company until July 1, 2026, serving as an advisor to Mr. Wigner and supporting a smooth CFO transition with Mr. Mittal. Mr. Diel brings over 25 years of experience in finance, corporate development, and business strategy expertise. Mr. Diel joined Universal Corporation in 2018 as Vice President of Business Development, where he led the Company?s financial planning and analysis and corporate development functions.
In that role, he was responsible for acquisitions totaling more than $350 million that established the Company?s ingredients segment and gained a deep understanding of the Company?s tobacco and ingredients business and operations. His was recently promoted to Vice President and CFO of Universal Ingredients, which reflects the meaningful contributions he has made to the organization throughout his tenure, as well as his expertise in combining financial discipline with operational and strategic insight. Mr. Diel joined Universal in 2018 as Vice President of Business Development, where he led the Company?s financial planning and analysis and corporate development functions.
Effective January 1, 2026, Mr. Diel was appointed Vice President and CFO of Universal Ingredients. Prior to joining Universal, he served in senior finance and corporate development roles with several public and private companies. Mr. Diel served as CFO of a privately held company, where he led the finance team and various administrative functions.
He also served as Senior Manager of Financial Planning & Analysis at Chicago Bridge & Iron Company N.V., Director of Global Strategy, Mergers and Acquisitions and other finance and corporate development roles at Ashland Inc., Nexeo Solutions, LLC, and World Kinect Corporation. He currently serves as Chairman of the Board of the Better Business Bureau of Central Virginia. Mr. Diel holds an MBA from Indiana University and a Bachelor of Science from Eastern Illinois University.
