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2026 Virginia C-Suite Awards: PATRICK Y. SHIM

Since 2024, South Korean manufacturer LS Cable & System has committed more than $1.3 billion of its capital budget to Chesapeake, where it is building two giant projects that are expected to create 760 jobs.
Shim, who joined the company in 2023, is the person in charge of hiring and overseeing the construction of subsidiary LS GreenLink USA’s roughly $700 million advanced subsea cable and port facility expected to be operational by 2028. The second project, announced in December 2025, is a $689 million manufacturing complex that will produce copper rods for cables, magnet wire and rare earth magnets for electric motors.

With Shim at the helm, LS Cable & System has introduced higher-capacity and more efficient production lines and matched innovation with customer demand for reliability, scale and speed to market. Shim believes his strengths lie “in translating long-term market trends into actionable investments that enhance competitiveness.”

A Claremont McKenna College graduate who has a background in investment on the West Coast, Shim previously worked at South Korea-based Mirae Asset Financial Group and California-based Hana Financial. He’s also a member of the Virginia Maritime Association’s board.

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2026 Virginia C-Suite Awards: SHANNON HAYES

In 2003, Hayes joined Timmons Group, a Chesterfield County-headquartered engineering and technology firm, as human resources director. Today, she works with more than 1,100 employees in more than 20 offices across the country.

In 2010, Hayes became the first female shareholder in the company’s history, and in 2017, she was appointed to the company’s board. Last year, Timmons Group upgraded her title to chief human resources officer.

A key recent accomplishment: Hayes served as the owner’s representative and de facto project manager representative during the recent construction of Timmons’ 150,000-square-foot office building at Springline at District 60. Last year, more than 400 employees moved to the new corporate headquarters, where Hayes oversaw key design decisions and organized the move.

Dedicated to empowering women, Hayes helps run the firm’s Women in Design program, an initiative that includes events and courses to support the personal and professional development of female employees.

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2026 Virginia C-Suite Awards: JONATHAN EVANS

A Penn State graduate, Evans came up through IBM Global Business Services and Excelsior Consulting Group before joining IT government contractor B&A in 2009 as director of enterprise resource planning (ERP) delivery.

From there, Evans climbed the ranks, moving from vice president of service delivery in 2011 to president in 2015 and CEO in 2018. Under his leadership, B&A’s enterprise value reportedly climbed from roughly $60 million in 2023 to $250 million at the beginning of 2026.

In 2024, the DFW Capital Partners private equity firm purchased B&A, and Evans was instrumental in integrating B&A into its new owner. He also helped to expand the company’s capabilities in technologies such as analytics, cloud computing, software development and enterprise platforms to align with federal modernization priorities.

Additionally, Evans strengthened B&A’s competitive posture with three acquisitions: iDoxSolutions, a Maryland-based information technology and management consulting company, announced in 2023; the strategic services and solutions intelligence and defense portfolio of Chantilly-based Hexagon US Federal in 2025; and Celestar, a multidisciplinary intelligence services and solutions provider, announced in January.

In 2025, B&A won more than 20 accolades related to workplace culture and employee wellness.

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Serco hires SAIC vet as chief technology officer

After nearly a decade working at -based Fortune 500 federal contractor Science Applications International Corp., Andy Henson has moved to -based federal contractor as , according to a Tuesday announcement.

“We are excited to welcome Andy to Serco North America,” Serco North America CEO Michael LaRouche said in a news release. “His experience delivering technology solutions across complex environments in can’t-fail situations and his focus on execution will help us deliver faster and better outcomes for our customers.”

At the North American subsidiary of British parent company Serco Group, Henson will lead technology strategy, drive innovation, strengthen technical capabilities and support the company’s growth in delivering services to government customers.

Henson succeeds Don Styer, who became the company’s senior vice president of strategic execution Tuesday, according to a company spokesperson. Styer had served as CTO since 2023 and joined Serco in 2016, according to his LinkedIn profile.

During his career at , Henson held leadership roles overseeing advanced analytics and solution delivery initiatives within the company’s solutions and technology team, its intelligence community portfolio and its defense agencies and combatant commands market.

During the early stages of the war in Ukraine, Henson supported U.S. European Command by helping introduce new capabilities in real time, according to the news release.

“It has been an incredible journey, working with some of the smartest people that care about this country and the missions that continue to preserve it,” Henson wrote about his SAIC career in a LinkedIn post.

Earlier in his career, Henson worked at Booz Allen Hamilton as a data science domain subject matter expert, according to his LinkedIn profile. Henson earned a degree in international business from the University of Akron.

LaRouche joined Serco in October 2025, succeeding Tom Watson, who stepped down after seven years with the company.

The U.S. Army recently awarded Serco a five-year contract to support the Army Planning Programming Budgeting Business Operating System, according to a May 19 announcement. The work includes software development, systems engineering and cloud infrastructure support.

Serco has more than 100 sites across North America and more than 10,000 employees across the and Canada. In May 2025, it completed its $327 million purchase of Northrop Grumman’s mission training and satellite ground network communications software business.

Bingham & Taylor to shut down Culpeper plant, laying off 92 employees

SUMMARY:

  • Bingham & Taylor plans to permanently close its Culpeper cast iron foundry by Nov. 30, laying off 92 employees
  • Parent company Charlotte Pipe and Foundry said the was driven by excess capacity and operational challenges
  • Production from Culpeper will move to the company’s Oakboro, North Carolina, facility

infrastructure products manufacturer Bingham & Taylor plans to permanently close its Culpeper plant this fall, laying off 92 employees in the process.

The company notified the state of the in a May 21 letter filed under the federal (WARN) Act. The letter said the company will permanently close the cast iron foundry at 601 Nalle Place in the town of Culpeper on or before Nov. 30. The closure will affect all but a few employees. Some longtime Culpeper employees have been offered the opportunity to transfer to other locations.

Founded in 1849, Bingham & Taylor sells meter- and valve-access products to water and gas utility customers.

In addition to the Culpeper site, the company operates plastics injection-molding and blow-molding plants in . In November 2025, the company was acquired by North Carolina-based Charlotte Pipe and Foundry, a manufacturer of cast iron and plastic pipe and fittings for plumbing applications. At the time of the , Bingham & Taylor had about 250 employees, about 240 of whom were based in Virginia, and the company said it did not expect any jobs to be lost because of the acquisition.

Bradford Muller, a spokesperson for Charlotte Pipe and Foundry, said in an email the company decided to close the Culpeper foundry after reviewing the facility alongside its Oakboro, North Carolina-based foundry and determining that “changes in market conditions have resulted in excess manufacturing capacity.” The company decided to transfer the work being done in Culpeper to its Oakboro facility.

Muller said lower-cost imports from India have taken a growing share of the domestic municipal castings market, putting pressure on U.S. manufacturers and contributing to lower production volumes at domestic foundries. He also cited “operational challenges” that the company said it was unaware of when it acquired Bingham & Taylor, although he did not elaborate on what those challenges were.

Muller noted that the Fredericksburg plastic facilities have unique capabilities not replicated at other Charlotte Pipe facilities and operate independently from the Culpeper foundry. Those plants will continue operating as normal, and the company plans to transfer some assembly operations from Culpeper to the Jamison Lane site in Fredericksburg.

Muller said the 92 employees listed in the were not among those offered transfers. He said he did not know how many employees received transfer offers or how many would remain with the company.

In the WARN letter, Bingham & Taylor said it would make every effort to assist impacted employees and coordinate with the Virginia Rapid Response team to provide transition assistance.

Charlotte Pipe and Foundry acquired Wisconsin-based Neenah Foundry, a manufacturer of municipal castings, in 2022.

Muller said the Bingham & Taylor brand will continue, along with the Neenah brand, as part of Charlotte Pipe’s infrastructure division. The company will evaluate what to do with the Culpeper facility at a future date.

2026 Virginia C-Suite Awards: ALEX BERENTZEN

Since joining Thompson Restaurants in 2022, Berentzen has reduced companywide turnover from 110% to 68%. About 80% of open positions were filled through internal promotions. He seeks to hire the best and, once they’re on the payroll, he keeps a close eye on their progress to ensure a clear path to promotions.

Under his leadership, the -based hospitality group’s restaurant count went from 29 to 68, with a target of 100 by the end of 2027. Online reviews for Thompson Restaurants increased from an average of 3.9 to 4.5. Revenue has doubled over the last three years. Additionally, Berentzen has helped to develop new Thompson Restaurants brands: Cut132, an Ohio steakhouse, and in Sterling, Ms. Peach’s Southern Kitchen and a reimagined Austin Grill.

A Netherlands native, Berentzen moved to the in 2003. Here, he has held leadership positions at companies including Wegmans Food Markets, King’s Seafood and Fox Restaurant Concepts before joining Thompson in Northern Virginia.

A certified sommelier, Berentzen often speaks at hospitality conferences, such as the National Restaurant Association Show.

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US space stocks rise on SpaceX IPO hype

May 27 (Reuters) – Shares of U.S. space companies continued to climb on Wednesday, extending their recent rally as investors bet that ‘s mammoth market listing could force Wall Street to fundamentally rethink how it values the .

The Elon Musk-led company last week took the wraps off its filing for an initial public offering (IPO), which showed how the rocket maker is betting its future on transitioning into an AI powerhouse.

“SpaceX going public has acted as a lens to focus the investment community on space travel and related support systems,” said Peter Andersen, founder at Andersen Capital Management.

“So it doesn’t surprise me that investors are starting to look at the entire sector and (space) stocks have gained more attention than usual.”

Shares of inched 0.1% higher and rose 2.5%, following gains of about 14% each in the last two sessions, while jumped 8.5%.

Publicly traded companies could benefit from renewed investor attention if SpaceX succeeds in sustaining the massive valuation it is eyeing, which is based largely on expectations of long-term infrastructure dominance and future growth rather than near-term earnings.

Poised to become the first trillion-dollar U.S. market debut, the listing could immediately cement SpaceX as one of the world’s most valuable publicly traded firms.

It could also have sweeping implications for other listed space companies, many of which have struggled to sustain premium valuations despite growing demand for satellite communications, launch services and defense-related off-planet infrastructure.

Exchange-traded funds tracking the aerospace sector, including Ark Space & Defense Innovation ETF, shed 0.7% on Wednesday, after having climbed more than 7% since SpaceX unveiled its filing last week.

Roundhill Space and Technology ETF dipped 0.5%, while gained 0.6%.

ETF managers and space-focused investors expect the IPO to draw new capital into the sector from generalist funds that have historically avoided such businesses because of their small size, volatility or limited liquidity.

Space-related stocks also drew heavy interest from retail investors on Wednesday, with firms including Momentus, Redwire and Sidus Space among the top 10 trending tickers on retail investor forum Stocktwits.

 

(Reporting by Shashwat Chauhan in Bengaluru and Akash Sriram in New York; Editing by Jonathan Ananda)

 

Oil extends drop as Iran TV says it has seen draft deal with US to reopen Hormuz

LONDON, May 27 (Reuters) – Oil extended losses on Wednesday, falling over 5% after said it had seen a draft of an initial, unofficial framework for an agreement with the on ending their conflict and reopening the .

The report, plus a pick-up in tanker traffic through the strait, outweighed Iran’s earlier comments that the United States had violated a ceasefire and a tanker on Tuesday reporting an explosion off the Oman coast.

futures fell $3.66, or 3.7%, to $95.92 a barrel by 1305 GMT, while U.S. (WTI) crude lost $5.19, or 5.59%, to $88.70.

The losses more than erased Brent’s gains from Tuesday. Brent and WTI touched intraday lows of $94.16 and $87.77 per barrel on Wednesday, their lowest in over a month.

There has been palpable progress towards ending the supply crisis, with an increasing number of ships transiting the Strait of Hormuz, analyst Tamas Varga said. “This is why the downward pressure has resumed,” he said, referring to .

The U.S. will withdraw military forces from the vicinity of Iran and lift its naval blockade, Iranian state TV said, adding that the management of ship traffic through the Strait of Hormuz will be handled by Iran in cooperation with Oman.

“The market keeps reacting to headlines,” analyst Giovanni Staunovo said.

“There is no indication that this is something different than what we kept hearing since the weekend, and the Iranians have indicated a deal is not imminent. Meanwhile, oil flows through the Strait remain restricted, reducing further oil inventories.”

July Brent futures rose 3.6% in the previous session after the U.S. carried out new strikes in Iran, hurting hopes that had risen over the weekend that Washington and Tehran would reach a peace deal.

Israel ramped up bombing in Lebanon on Tuesday, further straining peace efforts.

After an April ceasefire in the three-month-long conflict, both sides indicated they had made progress in talks toward reopening the Strait.

Iran’s effective of the Strait of Hormuz has taken more than 14 million barrels per day of Middle East oil supply offline according to the (IEA).

(Reporting by Robert Harvey in London, Colleen Howe in Beijing; Editing by Alex Lawler and Elaine Hardcastle)

 

2026 Virginia C-Suite Awards: LAURA SPROUSE

When Sprouse became CEO of the Top 100 accounting firm in 2024, she stepped into a role she had spent more than 25 years preparing for. Starting as a Brown Edwards associate after graduating from Ferrum College, she became a partner and later chief operating officer of the firm, which has grown its annual revenue from $25 million to $85 million. She also led the due diligence, negotiation and integration of 10 acquisitions and modernized the firm’s technology infrastructure.

Since becoming CEO, Sprouse has moved quickly. In late 2025, she closed two acquisitions, expanding the firm’s reach in Virginia Beach and Lynchburg, and reorganizing the company into a service line structure.

Now the largest independent CPA firm in Virginia by number of accountants, Brown Edwards is targeting $100 million in revenue under her leadership. A 2025 Forbes Best-In-State CPA, Sprouse is known for fostering a people-first culture, personally learning every new employee’s name across the firm.

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2026 Virginia C-Suite Awards: JACQUELINE ROGERS

Before joining Capital Square, Rogers built her career at leading brands, including Lincoln Motor, BMW, Marriott International’s Ritz-Carlton brand, Amazon and Lyft. While she described those roles as “thrilling and highly educational,” she ultimately sought a position where she could make a more lasting and meaningful impact.

She found that opportunity at Capital Square, the Glen Allen-based real estate investment firm founded by her father, co-CEO Louis J. Rogers. Joining in 2022, Rogers now oversees a broad portfolio spanning branding, marketing, investor relations, corporate strategy, technology, human resources and firmwide operations.

Rogers has played a central role in transforming Capital Square into a vertically integrated, three-pillar platform. She led the creation of Capital Square Living, the firm’s property management division, and helped scale the organization to more than 400 employees, hiring more than 300 of them.

In 2025, Capital Square surpassed $1 billion in multifamily transaction volume. Rogers also led efforts to document the economic impact of the firm’s Scott’s Addition developments, with findings used by academic and government groups. A graduate of the University of Virginia’s Darden School of Business and VCU’s Brandcenter, Rogers founded Capital Square Cares and serves on the Virginia Museum of Fine Arts Foundation’s board.

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