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Henrico-based Elephant Insurance to be sold
The U.K.-based Admiral Group is selling Henrico County-based auto insurer Elephant Insurance to J.C. Flowers & Co., a New York-based private investment firm, according to a Tuesday announcement. The deal is for “an undisclosed cash consideration … representing approximately the net asset value of Elephant,” a news rele[...]
Largest industrial building in Richmond market holds groundbreaking
A massive 846,260 square-foot spec industrial facility under construction in southern Chesterfield County is expected to be ready for delivery before the end of the year. New York-based real estate developer PNK Group began construction on the building at 1640 Ashton Park Drive during the first quarter of this year and hosted a [...]
State report calls Richmond water crisis ‘completely avoidable’
The January Richmond water crisis that left hundreds of thousands of residents without water for close to a week, forcing restaurants and other businesses to temporarily close or limit service, was “completely avoidable,” a final report from Virginia Department of Health has determined. In his release of the report late Wedn[...]
Virginia’s Gateway Region adds three localities to footprint
Virginia’s Gateway Region Economic Development Organization announced Thursday that its board of directors voted three additional Virginia localities — the city of Emporia, along with Greensville and Brunswick counties — into its geographic footprint. Based in Colonial Heights, the VGR is a private nonprofit economic d[...]
U.Va. med school faculty, clinical leaders defend those who backed CEO’s resignation
More than a month after Dr. K. Craig Kent resigned as UVA Health’s CEO following an independent investigation and an emergency meeting of the University of Virginia Board of Visitors, drama is still roiling at the university. A group of 21 doctors — U.Va. School of Medicine faculty senators and senators-elect, as well as[...]
University of Virginia Foundation promotes new CEO
The University of Virginia Foundation has named Deborah van Eersel as its next CEO, effective July 1. Currently the foundation’s chief administrative officer, she will succeed Tim Rose, who is retiring after 33 years at its helm, U.Va. announced in late January. The foundation’s directors formally approved the decisi[...]
CarMax leaves Martin Agency, transfers ad account to L.A. firm
Fortune 500 used car retailer CarMax, headquartered in Goochland County, has chosen a new creative agency of record, leaving Richmond-based marketing and ad firm The Martin Agency, which held the account since 2019. The nation’s largest used car retailer announced Wednesday it has appointed 72andSunny’s Los Angeles o[...]
U.Va. hires AstraZeneca exec to lead Manning biotech institute
Mark T. Esser, vice president for vaccines and immune therapies at pharmaceutical giant AstraZeneca, will be the inaugural chief scientific officer and leader of the Paul and Diane Manning Institute of Biotechnology at the University of Virginia, U.Va. announced Thursday. Esser, who will join U.Va. May 1, earned a Ph.D. in micro[...]
Genworth taps new CIO
Henrico County-based Fortune 500 insurance company Genworth Financial announced Monday that Morris Taylor is its new senior vice president and chief information officer. Taylor joins the company from Glen Allen-based Fortune 500 insurer Markel, where he had served as chief information officer since 2021. Before Markel, Taylor sp[...]
NFIB hires grassroots manager for five-state region
Small business advocacy organization the National Federation of Independent Business announced Tuesday that it hired Katie Whittington as its grassroots manager for Georgia, North Carolina, South Carolina Virginia and West Virginia. In the role, Whittington will be based in Richmond and work directly with NFIB members across the[...]
Va. reports close to 300 layoffs across 3 bizs
A Fortune 500 federal contractor, a global aluminum company and a private school notified Virginia on March 31 of job cuts in compliance with the Worker Adjustment and Retraining Notification (WARN) Act. Leidos, which has its headquarters in Reston and provides technology, engineering and science services to defense, intelligenc[...]
Dominion Energy proposes hefty rate hikes
Fortune 500 utility Dominion Energy is proposing a fuel rate increase and additional base rate increases which, if approved, could raise monthly power bills for average residential customers by as much as $21.43 by 2027. The Richmond-based utility proposed new base and fuel rates in separate filings with the Virginia State Corpo[...]
