Altria names two new board members

Marjorie M. Connelly and R. Matt Davis joined the board

Published October 28, 2021 by Katherine Schulte

Henrico County-based Altria Group Inc. announced the elections of two board members Wednesday and its third quarter earnings Thursday.

Marjorie M. Connelly and R. Matt Davis joined Altria’s board of directors.

“Both Marge and Matt bring a tremendous amount of senior-level public company experience,” Altria Board Chair Kathryn McQuade said in a statement. “I believe that their significant expertise, including in operations, business strategy, consumer insights and public policy, will enhance the board’s strategic oversight.”

Connelly was the chief operating officer of Cincinnati-based customer management company Convergys Corp., now integrated into Fremont, California-based Concentrix Corp., from November 2014 until December 2017. She has also held leadership positions with credit card company Barclaycard, now-defunct Wachovia Securities and McLean-based Capital One Financial Corp. Currently, she serves as a director of Norfolk-based debt collector PRA Group Inc. and as an adviser to Philadelphia-based MissionOG, a venture capital firm. Connelly will serve on several Altria committees: audit; innovation; and nominating, corporate governance and social responsibility.

In 2018, Davis retired from his roles as Dow Inc.’s president of North America and senior vice president of global corporate affairs, a position he had held since 2016. From 1987 to 2016, Davis held varying roles with Dow Inc. Since 2019, he has served as president of leadership training company Driftwood Leadership LLC. He will serve on the following Altria committees: finance; innovation; and nominating, corporate governance and social responsibility.

John T. Casteen III, a director since 2010, will retire from service on the board when his term ends.

Altria reported almost $6.79 million in third-quarter profits Thursday, bringing the company’s year-to-date revenues to nearly $19.76 million.

Altria wholly owns Philip Morris USA Inc. and has exclusive U.S. commercialization rights to the IQOS Tobacco Heating System, which the U.S. International Trade Commission ruled in late September the companies must stop selling and importing. The decision was the result of a patent case brought by R.J. Reynolds Tobacco Co. The ban will take effect near the end of November, after the conclusion of a two-month administrative review. Philip Morris has said it plans to appeal the ruling.

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