Retail 2024: WATT R. FOSTER JR.

In 1989, Foster bought Foster Fuels from his father, the late Watt R. “Bobby” Foster Sr. The younger Foster marks the third generation to run the family business, which was founded in 1921. With about 240 employees, the company in fiscal 2023 had $215 million in revenue.

Foster held the titles of CEO and president until January, when the company named a new president, Will Rohrig, who has been with Foster Fuels since 2009 and most recently served as director of emergency services. The change will allow Foster to concentrate more on his family’s land conservation efforts and The Foster Foundation, which supports disadvantaged children, scholarship funds and local charities. Foster, who also serves on the Bank of the James Financial Group’s board, has placed more than 2,000 acres of land under conservation easements.

Foster Fuels holds the prime contract for emergency fuel delivery with the federal government, receiving in May the latest iteration of the contract, worth up to $442 million over five years. Through its Mission Critical division, the company has responded to relief efforts, including Hurricane Katrina, the Haiti earthquake, Texas ice storms and Hurricane Ian.