CV International taps new CFO

Norfolk-based international logistics company CV International and its subsidiary, Capes Shipping Agencies, announced Tuesday that it has appointed finance executive Jeff Underwood as chief financial officer.

Underwood succeeds Michael King, who retired at the end of June after serving as CFO of CVI and Capes for more than 17 years.

Underwood has more than 30 years of finance experience and was most recently the Port of Virginia‘s vice president of finance and analytics. He began his career in public accounting with PricewaterhouseCoopers before joining Maersk in 2002.

Underwood has expertise in marine terminal operations, U.S. flag vessel management and federal contracting, according to CVI, and has led initiatives in financial reporting, budgeting, compliance, mergers and acquisitions integration, strategic planning and implementing financial systems.

“What drew me to CVI and Capes was the entrepreneurial culture — grounded in expertise, focused on creating value, and driven by a clear appetite for growth,” said Underwood in a statement. “I’ve spent much of my career helping organizations expand operations, and I look forward to bringing that experience to this role. My goal is to help guide the company’s financial strategy as it continues to scale and build the infrastructure to support long-term, sustainable growth. In today’s turbulent market, there are opportunities for organizations with the expertise and agility to help customers navigate complexity and deliver meaningful solutions.”

King, the outgoing CFO, will remain serving on CVI’s board of directors. CVI praised King for maintaining financial stability and guiding both companies through periods of growth and market disruption, especially in the years following the COVID-19 pandemic.

“We are grateful for Michael’s service to the company and are excited to welcome Jeff to the team,” said Mike Coleman, CEO and president of CVI and Capes, in a statement. “Jeff, and the expertise he brings, will be instrumental to our continued growth.”

Headquartered in Norfolk, CVI provides freight forwarding, customs brokerage, supply chain visibility and compliance consulting services. In addition to its headquarters, the company has 11 branch locations throughout the United States. Capes provides vessel agency and cargo forwarding services across ports along the U.S. East and Gulf Coasts. Capes specializes in the dry bulk, liquid bulk, breakbulk and renewables sectors. CVI and Capes collectively employ 117 people.