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NNS announces senior leadership changes
Newport News Shipbuilding is promoting three employees to its senior leadership team, as well as restructuring programs as the company plans for upcoming retirements. Rob Check will become vice president of in-service aircraft carrier programs; Thomasina Wright will assume the role of vice president of fleet support programs, and Les Smith will take over as […]
ASRC Federal closes $350M purchase of SAIC logistics biz
The $350 million cash sale of Science Applications International Corp. (SAIC)’s logistics and supply chain management business to ASRC Federal Holding Company LLC is complete, the Reston-based companies announced Monday. ASRC and Fortune 500 tech contractor SAIC first announced the deal in March. With the sale’s completion, 240 SAIC employees transitioned to ASRC Federal. “We [&helli[...]
April 2023 Top Five
The top five most-read daily news stories on VirginiaBusiness.com from Feb. 14 to March 13 included an update on the Lego Group’s Chesterfield County factory, which is expected to begin production in 2025. 1 | Lego to hire 500 Chesterfield employees by year’s end The Danish toymaker expects to create more than 1,760 jobs at […]
Arko tries to keep $1.4B TravelCenters of America bid alive
Updated 5:30 p.m. March 28 Henrico County-based Fortune 500 convenience store holding company Arko Corp. is rivaling British oil and gas giant BP in a $1.4 billion bid to acquire Westlake, Ohio-based TravelCenters of America Inc., a publicly traded convenience store chain with 281 retail stores and roadside restaurants in 44 states. On Monday, Arko […]
DXC penalized by SEC over misleading financial info
Ashburn-based Fortune 500 IT company DXC Technology Co. has been penalized by the federal government for making “misleading” financial reports from 2018 to early 2020, according to the U.S. Securities and Exchange Commission. DXC did not admit or deny the charges, but consented to a cease-and-desist order and agreed to pay an $8 million penalty. […]
Arko buys chain of 135 convenience stores
Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, has closed the acquisition of South Carolina-based Transit Energy Group, which is valued at $370 million plus the value of inventory. The transaction, announced Thursday. includes 135 convenience stores, supply fuel to approximately 190 dealers and a transportation business […]
Compound growth
As U.S. stocks hit bear market territory last year, Virginia’s largest publicly traded companies weathered rising interest rates, inflation and continued supply chain and labor challenges. Rising home mortgage rates drove a slowdown in new business at McLean-based Freddie Mac. Plunging prices for used cars caused Goochland County-based CarMax to focus on controlling costs. As […]
Playing defense
What’s in a name? Perhaps a lot if you’re riding on the coattails of Boeing Co. and Raytheon Technologies Corp. The May and June 2022 announcements that Fortune 100 contractors Boeing and Raytheon would move their corporate headquarters to Arlington County generated plenty of buzz, but they didn’t dazzle like the 2018 announcement of Amazon.com […]
The 2023 Heavy Hitters list
Virginia Business’ annual list of the commonwealth’s 50 most powerful and influential leaders provides our editors’ take on the heaviest-hitting of heavyweights in business, government, nonprofits and higher education. Think of it as an executive committee for the leaders populating our annual Virginia 500 issue — the top 10% of the state’s power elite. And […]
Krone to step down as Leidos CEO; Rolls-Royce exec to replace him
Reston-based Fortune 500 contractor Leidos Chairman and CEO Roger Krone plans to step down from both positions this year, with Thomas Bell, the president of Defense Rolls-Royce plc and chairman and CEO of the company’s North American branch, succeeding Krone as CEO on May 4, Leidos announced Monday. Robert S. Shapard will become the company’s […]
Markel announces next CFO
Teri Gendron will succeed Jeremy Noble as Markel Corp.’s chief financial officer on March 20, the Glen Allen-based Fortune 500 insurance and investment firm announced Tuesday. Noble became president of Markel’s insurance operations earlier this year. Gendron will oversee and manage the holding company’s financial operations across its three divisions: insurance, investments and M[...]
