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THOMAS R. FRANTZ

Thomas Frantz has repeatedly received accolades from peer lawyers. He is among a small group of attorneys who have made Virginia Business’ Elite list for all 25 years it has run.

Frantz holds three degrees from : a bachelor’s in accounting, a degree and a master’s in law and taxation. He served on the university’s board of visitors from 2011 to 2019 and is a past board member of William & Mary’s Mason School of Business. He’s also a certified public accountant and served as a U.S. Army captain.

Frantz has spent 50-plus years in law, starting at Clark & Stant, where he was an original principal. In 1999, Clark & Stant merged with , which Frantz led as president and CEO from 2010 to 2015. He specializes in corporate and tax law, advising and representing corporations and handling mergers and acquisitions.

Frantz is heavily involved in the community. A former King Neptune, he chairs the GO Virginia Region 5 Regional Council and serves on the board of the Hampton Roads Executive Roundtable, which supports the GO Virginia Region 5 program. Additionally, he is co-chair of RVA757 Connects, an economic booster group promoting cooperation between the and Hampton Roads regions.

Among other honors, Frantz has received Volunteer Hampton Roads’ Lenora Mathews Lifetime Achievement Award, recognizing his legacy of community service. In 2022, the Hampton Roads Chamber honored him with the First Citizen of Hampton Roads Award.

GERALD S. DIVARIS

A native of South Africa, Gerald Divaris co-founded his real estate firm, Divaris Real Estate, more than five decades ago in his home country, where he earned degrees in accounting and real estate marketing from the University of Cape Town. In 1981, he brought the business to Virginia.

The real estate company is now under the umbrella, of which Divaris is also the founder and CEO, along with Divaris Property Management, Creative Development Partners, The McGarey Group, S.T. Burke Partners, Ingenuity Development and KLNB Asset Services.

Headquartered in , Divaris Group has offices in Newport News, Norfolk, and , as well as North Carolina, California and Washington, D.C. The firm manages or leases more than 40 million square feet of office, retail and industrial space nationwide, and it’s continued to grow. Last year, the company purchased S.T. Burke in Philadelphia, and in March, the Virginia Beach Town Center, a property Divaris and Armada Hoffler started building in 2000, was officially 99% occupied.

Gerald Divaris has long been considered one of the region’s most influential people, reflected by his inclusion on regional business lists and other honors. In 2024, Divaris was inducted into the Hampton Roads Business Hall of Fame.

BENJAMIN J. ‘BEN’ DAVENPORT JR.

Ben has followed in the footsteps of his father, who founded Davenport in 1941.

With seven regional offices, Davenport Energy employs 175 people and supplies propane, and other petroleum products to more than 30,000 customers throughout Southern, Southwest and Central Virginia and North Carolina. The company also supplies gasoline and diesel fuel to more than 300 convenience stores.

Back in the late 1960s, Davenport went on a sales call to Goodyear Tire and Rubber in Danville. The purchasing agent complained that Goodyear was no longer allowed to take waste to the landfill.

“And I said, ‘Oh, I can handle it,’” Davenport recalls in a video about the origins of First Piedmont Corp., the waste management and recycling business he started because of that meeting. Davenport is also chairman of that company, which runs a 250-acre industrial landfill in Pittsylvania County.

A longtime force in the community, Davenport sits on numerous boards including Hargrave Military Academy, the Institute for Advanced Learning and Research and the Virginia Growth and Opportunity Board.

With his wife, Betty, Davenport donated $1 million to the Virginia Foundation for Community College Education in 2016 to bolster training for early childhood educators.

A 1960 graduate of Hargrave, Davenport earned a business degree at and served in the U.S. Coast Guard.

He is a past rector for Virginia Tech. In 2016, the university awarded him the William H. Ruffner Medal, which recognizes individuals who have performed notable and distinguished service to the university.

WILLIAM G. ‘BILL’ CRUTCHFIELD JR.

A lifelong entrepreneur and self-described “electronics nerd,” was only 13 when he built what he believes to be the first stereo system in Virginia. By age 15, he formed his first business, installing hi-fi stereo equipment in homes throughout .

The Vietnam War interrupted Crutchfield’s business venture; he joined the U.S. Air Force, where he commanded a Titan II intercontinental ballistic missile crew, retiring as a captain.

Nevertheless, Crutchfield retained his entrepreneurial spirit. In 1974, while restoring old Porsche 356s, he saw an untapped niche for installing car stereos and founded a mail-order car stereo business in his mother’s basement. Today, sells everything from televisions to drones, with about $400 million in sales and approximately 600 employees. It’s never had employee layoffs. In 2024, the General Assembly passed a joint resolution commending Crutchfield on the 50th anniversary of his company.

“Start and manage a business in the old-fashioned way by bootstrapping during its early years, being extremely frugal and avoiding unnecessary debt,” Crutchfield advises entrepreneurs.

No stranger to public service, Crutchfield currently serves on the Governor’s Advisory Council on Revenue Estimates. A University of Virginia graduate, he has lectured at several U.Va. schools and served on its board of visitors. Currently, he sits on the UVA Health System board.

Crutchfield is a member of the (now Consumer Technology) Hall of Fame, one of his numerous honors. At the invitation of Samsung, he was a torchbearer for the Beijing Olympics in 2008.

RAMON W. BREEDEN JR.

Ramon Breeden Jr. has spent more than 60 years shaping Virginia’s real estate landscape. He founded his -based real estate development company, The , in 1961 and continued as its CEO and president well into his 80s. He guided the company from its beginnings in single-family home construction to becoming a leader in and development, landing on the nation’s top 500 builders list within 15 years.

During his career, he developed, owned or managed more than 20,000 apartments, 1,700 single-family homes, and over 2 million square feet of and office space across the state. He was also a founding board member of Commerce Bank in

Virginia Beach, which was later acquired by BB&T, and served on numerous advisory boards.

Although Breeden retired as president and CEO in 2022, handing over the reins to Timothy Faulkner, he continues to play an active role in the company as its founder and chairman. In April, the company announced completion of the $43 million construction of a 198-unit multifamily community in Norfolk.

Beyond business, Breeden has been very active in his community, supporting educational foundations, military alliances and animal rescue organizations. He’s often served as a guest speaker for student panels and classroom discussions at the University of Virginia, particularly the McIntire School of Commerce, where he earned his bachelor’s degree.

To celebrate Breeden’s legacy, Virginia Beach Mayor Bobby Dyer proclaimed Aug. 9, 2022, as Day.

JANE BATTEN

At 19 years old, married Frank Batten, who later became chairman and CEO of Landmark Communications and co-founder of The Weather Channel, which he sold to NBC Universal and other partners in 2008. For decades, the couple was known for their philanthropic work, a legacy Jane Batten has continued following her husband’s death in 2009.

Many of the family’s major gifts have been to colleges and universities across the state, including Hollins University, the University of Virginia, , , and . In 2024, Batten donated $100 million to establish the William & Mary Batten School of Coastal and Marine Sciences, billed as the largest-ever individual donation for marine research.

VWU has been a special cause for Batten over the years, as she started serving on its board in 1981 and in 1995 became its first female chair, while supporting the private university financially through the decades. Earlier this year, the university announced it would rename itself in 2026 in recognition of the Batten family’s generosity.

Batten also provided one of two lead gifts to relocate the Virginia Museum of Contemporary Art from the Virginia Beach Oceanfront to VWU’s campus, with the new location slated to open in early 2026.

VICTOR BRANCH

Victor Branch began his 40-plus years of service at in 1984 and became the first Black president of the bank’s market in 2015. He has been the Richmond market executive since 2003.

The immediate past chairman of the Virginia Bankers Association board, Branch is a leader outside of work as well. He is rector of the board of visitors at Virginia State University and chair of the Community Foundation for a greater Richmond’s board of governors. He also sits on the board of Venture Richmond.

Additionally, in January, the Urban League of awarded Branch a Martin Luther King Jr. Community Leaders Award in , and in May, he was inducted into Junior Achievement of Central Virginia’s Greater Richmond Business Hall of Fame.

Branch received an associate degree in sociology from Richard Bland College and graduated from with a bachelor’s degree in sociology. He served on William & Mary’s board of visitors from 2018 to 2022.

Other past board memberships include the Virginia Gateway Region and nonprofit Housing Opportunities Made Equal. Branch is an ardent advocate of homeownership as an underpinning of generational wealth.

VICTOR O. CARDWELL

A native of Lynchburg, Victor Cardwell retained his position as chair of the board in 2022 when the firm merged with Norfolk’s Vandeventer Black. The same year, Cardwell became the first Black president of the Virginia Bar Association.

At the state’s fifth largest , which shortened its name from Woods Rogers Vandeventer Black back to the original Woods Rogers last year, Cardwell practices labor and employment .

In his practice, Cardwell advises executives and human resources managers on issues including harassment, sexual orientation and gender identity, retaliation and discrimination. He also provides guidance on topics such as workforce reductions, unfair competition and union-organizing campaigns. Additionally, Cardwell counsels clients on matters that include the Family Educational Rights and Privacy Act and Title IX.

Before joining Woods Rogers in 1991, Cardwell worked as a deputy associate chief counsel with the U.S. Department of Labor Benefits Review Board.

This year, the Virginia Law Foundation inducted Cardwell, along with 25 other lawyers, into its 2025 Fellows Class. He also was among several NAACP Citizens of the Year winners in May.

A graduate of the University of Virginia, Cardwell earned his law degree at Washington and Lee University. He sits on the board of trustees for the Virginia Foundation for Independent Colleges.

G. ROBERT ASTON

In 1998, G. Robert Aston and friends launched what would become ‘ largest community bank from his garage. By spring 1999, had opened three offices with the support of 4,000 founding shareholders.

Now, TowneBank has 2,700 employees across more than 50 locations in Virginia and parts of North Carolina, reporting $18.26 billion in assets as of June 30. It completed its $203 million purchase of Old Point Financial in September, and in August, the bank signed an agreement to acquire North Carolina-based Dogwood State Bank for approximately $476.2 million.

That’s only the latest developments in Aston’s six-decade career, which stretches back to 1964. In 1981, he became president and CEO of Citizens Trust Co. He went on to lead Commerce Bank and BB&T of Virginia before founding TowneBank, where he served as board chairman and CEO for 20 years. Aston has been executive chairman since 2018.

“From the beginning, our goal at TowneBank was to build a great community asset,” Aston says. “It is anchored in our DNA.”

Forbes has repeatedly named TowneBank to its 100-bank America’s Best Banks list, and American Banker recognized the bank in its 2023 Best Banks to Work For list.

Aston has received numerous recognitions for his community involvement, including the Hampton Roads Chamber’s First Citizen of Hampton Roads award and a lifetime achievement award from Volunteer Hampton Roads. He also holds honorary doctorates from and , where he is a trustee and significant donor.

JOHN C. ASBURY

With more than 35 years of experience, John C. Asbury returned to his home state and began leading in 2016.

A past chair of the Mid-Size Bank Coalition of America and the Virginia Bankers Association, Asbury also served as the 2024-25 chair of the American Bankers Association. “Serving in this capacity has allowed me to advocate for sound policy, promote innovation and inclusion, and help shape the future of banking at a national level,” he says.

Asbury has led Atlantic Union Bank’s growth from about $8 billion in assets to $37.3 billion (as of June 30) through both organic growth and acquisitions. In April, Atlantic Union Bankshares, the bank’s holding company, completed its $1.3 billion acquisition of Sandy Spring Bancorp, creating the largest regional banking franchise headquartered in the lower mid-Atlantic.

“My hope is that through our shared efforts, we [at Atlantic Union Bank] will continue to make Virginia a place of opportunity and belonging for generations to come,” Asbury says.

The and alumnus serves on the Virginia Port Authority’s board of commissioners and chairs its growth committee. He’s also a member of the Greater Partnership’s board and a past member of the ChamberRVA board.

Asbury helped launch and chairs Virginia Learns, a nonprofit bringing business and education leaders together to strengthen public K-12 education and workforce readiness.