On the move
These people are making a name for themselves throughout Virginia
Thomas Barkin, president and CEO, Federal Reserve Bank of Richmond
In taking the Richmond Fed job last year, Barkin immediately became a voting member of the rate-making Federal Open Market Committee. The committee raised interest rates four times during 2018, drawing the ire of President Donald Trump. At its January meeting, however, the FOMC said it would put further rate increases on hold temporarily. Barkin will become a voting member again in 2021.
Brendan Bechtel, chairman and CEO, Bechtel Group Inc., Reston
Bechtel has led the 120-year-old global construction firm since 2016. Last year he moved its headquarters from San Francisco to Reston, which had served as the home of its operational headquarters for several years. The move added 200 jobs to the Reston office.
Michael Bor, CEO, CarLotz, Richmond
Since opening in 2011, CarLotz, a used-vehicle consignment business, has expanded to eight locations in three states. Last year, the company opened stores in Tampa, San Antonio and Chicago. For a flat fee, CarLotz prepares vehicles for sale, markets them nationwide and negotiates deals on the sellers’ behalf.
Dr. L.D. Britt, surgery chairman, Eastern Virginia Medical School, Norfolk
Suffolk last year honored Britt, who is from the city, with a plaque on its health and human services building. A member of the National Academy of Sciences, Britt is the project leader of a $2.5 million national study on health disparities in surgery patients.
Kristen Cavallo, CEO, The Martin Agency, Richmond
Cavallo is the first woman to lead the Richmond-based advertising agency. She took over in late 2017 after sexual harassment claims against a former agency executive became public. During Cavallo’s tenure, the agency has doubled the number of female leaders on its executive committee and hired a chief culture officer, whose tasks include promoting diversity and inclusion.
Kimberly Christner, president and CEO, Cornerstone Hospitality, Williamsburg
Christner has made a name for herself by developing boutique hotels in small towns and midsize cities with the aim of promoting their economic development. Christner’s projects include The Western Front Hotel in St. Paul, which opened last year. This August, she plans to open the Sessions Hotel in Bristol.
Mac Curtis, president and CEO, Perspecta, Chantilly
Curtis leads a $4.2 billion IT government contractor. Perspecta was formed last year from the spinoff of DXC Technology’s public-sector unit and a merger with KeyPoint Government Solutions and Vencore Holding Corp. Curtis previously led Vencore. He serves on the boards of the Northern Virginia Technology Council and the Military Bowl.
J. Morgan Davis, president and CEO, TowneBank, Portsmouth
Davis last year was named CEO of TowneBank, one of Virginia’s biggest and fastest-growing community banks. The bank holds the largest share of deposits among banks serving Hampton Roads. Davis previously was president and CEO of Towne Financial Services and president of TowneBank of Virginia Beach.
Paul and Ryan Elswick, co-founders and owners, Sunset Digital, Duffield
Sunset Digital provides Internet and phone services in rural areas. The company serves Southern and Southwest Virginia and parts of Tennessee. In August, the Elswicks’ company finally acquired Bristol’s OptiNet fiber-optic network in Southwest Virginia for $50 million, a deal that was more than two years in the making.
Shane Emmett, co-founder and CEO, Health Warrior Inc., Richmond
Health Warrior, a maker of nutrition bars, was acquired last year by the giant snack-food and soda company PepsiCo. The deal was the first investment for PepsiCo’s HIVE, an entity focused on emerging, smaller brands. Health Warrior kept its management and its Scott’s Addition headquarters. Founded by Emmett and two college friends in 2010, the company’s primary products are chia seed-based bars.
Joe Fluet, founder, chairman and CEO, MAG Aerospace, Fairfax County
MAG Aerospace is a fast-growing intelligence, surveillance and reconnaissance services firm for federal, civilian and commercial customers around the world. The company operates more than 200 manned and unmanned aircraft. The company moved its headquarters last year from Woodbridge to Fairfax and has completed several acquisitions in the past couple years.
Buddy Gadams, president, Marathon Development Group, Norfolk
Gadams’ company is known for rehabbing prominent buildings in Norfolk. A recent project included the $3 million straightening of “The Leaning Tower of Granby,” which Marathon is converting into apartments. Gadams also bought Bay Point Marina in Norfolk’s Ocean View neighborhood with plans to develop 17 beach-style cottages, an upgraded marina and a clubhouse with a pool.
Todd Haymore, managing director, Global Economic Development, Commerce & Government Relations Group, Hunton Andrews Kurth, Richmond
Haymore served three governors as a department head and cabinet member. As secretary of commerce and trade under Gov. Terry McAuliffe, he oversaw 13 state agencies, including the Virginia Economic Development Partnership. Haymore now works for Virginia’s second-largest law firm.
Mark Hourigan, founder and CEO, Hourigan Group, Richmond
Hourigan, a real estate development and construction management company, is developing the Deepwater Industrial Park near the Richmond Marine Terminal. The company plans to create 1.5 million square feet of industrial space there. Hourigan’s construction arm is building Dominion Energy’s 20-story office tower in Richmond and the $40 million Explosive Ordnance Demolition Operations and Logistics Facility for the Naval Facilities Engineering Command in Virginia Beach.
J. Stephen Jones, president and CEO, Inova Health System, Falls Church
Jones became CEO of Inova last April after working as a high-ranking Cleveland Clinic official. He succeeded J. Knox Singleton, who had led Inova for decades. Inova has five hospitals with 16,000 employees. It is developing a 117-acre research campus, the Inova Center for Personalized Health.
J. Ryan Lingerfelt, principal, president and chief investment officer, Lingerfelt Commonwealth Partners, Henrico County
Lingerfelt oversees his real estate firm’s investment and deal structuring. In December, Lingerfelt Commonwealth Partners announced a $92.5 million hotel portfolio sale. With roots dating back to 1957, the company has built, acquired and managed nearly 20 million square feet of commercial real estate across in eastern U.S.
Mary McDuffie, president and CEO, Navy Federal Credit Union, Vienna
Navy Federal is the largest credit union in the world. McDuffie became its first female CEO earlier this year. The credit union has 8 million members and more than 17,000 employees. It was ranked No. 29 on Fortune’s latest list of 100 Best Companies to Work For.
Kevin Murphy, CEO, Ferguson Enterprises, Newport News
Murphy runs the North American subsidiary of Switzerland-based Ferguson plc. Ferguson Enterprises, which has 27,000 employees, distributes plumbing supplies, pipes, valves and fittings. The company is building a third headquarters building in Newport News. The $86 million, 260,000-square-foot building will house about 1,600 employees when completed next year.
Bruce Smith, developer and NFL Hall of Famer, Bruce Smith Enterprise, Virginia Beach
Smith has persistently raised concerns about how Virginia Beach does business with women and minorities. In February, Virginia Beach released a 500-page disparity study detailing steps the city could take to improve its business practices. The study recommended the city council set an annual goal of awarding 12 percent of its contracts to minority-owned businesses.
Maria Tedesco, president, Union Bank & Trust, Richmond
Tedesco is the first woman to serve as Union Bank & Trust’s president in its 116-year history. She previously was chief operating officer for retail at Chicago-based BMO Harris Bank. American Banker twice named her one of the most powerful women in banking. Following its acquisition of Reston-based Access National Bank, the bank announced plans to change its name in May to Atlantic Union Bank.
Joe Wilson, CEO, PermaTreat, Fredericksburg
Wilson sold PermaTreat in 2014 but still holds the title of CEO at the pest and termite control company, which serves 25,000 customers. Wilson and his wife last year donated $5 million to the Mary Washington Hospital Foundation and created a $1 million endowment at Virginia Tech to study ways to fight urban pests.
Jaffray Woodriff, co-founder and CEO, Quantitative Investment Management, Charlottesville
In January, the Quantitative Foundation, where Woodriff is a trustee, pledged a $120 million grant for the University of Virginia’s proposed School of Data Science. The donation represents the largest private gift in U.Va.’s history. It follows Quantitative Foundation’s pledge in 2014 for $10 million over six years to support U.Va.’s Data Science Institute.