Blacksburg is moving forward with the renovation of a former dry-cleaning business into a retail business incubator. Slated to open by the end of 2025, the Blacksburg Retail Incubator is planned at 414 N. Main St., a 5,000-square-foot building owned by the town. After the building has been improved, Downtown Blacksburg Inc. will locate there and operate an incubator to house entrepreneurs seeking to create or expand a business providing products to the community. Officials hope to attract merchants that serve a new or underserved market. There will be room for events and receptions as well. (The Roanoke Times)
Arlington County’s CareJourney, a health care data and analytics company co-founded in 2014 by former U.S. Chief Technology Officer Aneesh Chopra, has been acquired by Arcadia, a Boston health care data platform, according to a June 27 announcement. A spokesperson for Arcadia declined to provide financial terms of the deal. The merged company will have 400 employees. CareJourney derives analytics from Medicare, Medicaid, Medicare Advantage and commercial claims data across more than 300 million beneficiaries and over 2 million providers nationwide. Its clients include payers, providers and employers. Chopra, who served as the nation’s first chief technology officer under President Barack Obama, is now Arcadia’s chief strategy officer. (VirginiaBusiness.com)
CAV Angels, an investment syndicate composed of University of Virginia alumni, students and friends, recently closed three funding deals to push its lifetime investments close to $26 million. The recent investments include MITO Material Solutions, an Indianapolis company that makes resin additives for manufacturing, New York City’s Ask Alex, which offers AI-powered data and marketing software that automates workflows for brick-and-mortar operators; and Richmond augmented reality company ARtGlass. Exact terms of the funding deals were not disclosed. All were group deals. (Richmond Inno)
Shenandoah Community Capital Fund is hosting its third annual Shenandoah Valley Entrepreneurship Summit Sept. 9-10 at James Madison University in Harrisonburg. With the theme “Learning by Doing,” the summit will offer several hands-on workshops as well as networking and relationship-building opportunities. Session topics will be led by expert entrepreneurs and business owners and will center around subjects such as marketing, finance, technology and business management. Tickets are $155 (or $80 for students) and include meals and admission to SCCF’s first Demo Day on night one. More information can be found at sccfva.org. (News release)
Torev Motors, a Crystal City startup vying to improve the motors that power electric vehicles, crossed the $1 million funding threshold in June. The 2-year-old company recently closed a $650,000 pre-seed funding round led by BetterWay Ventures, a Charleston, South Carolina-based venture capital firm that funds green techstartups. Houston investment firm EcoSphere Ventures, Los Angeles-based Climate Avengers and Alexandria investment firm Intbox Ventures also participated. Torev is in talks with several automakers about establishing pilot programs that its founders hope will lead to its hardware being tested out in passenger cars and, eventually, construction and military equipment. (DC Inno)
McLean fintech Verituity has raised $18.8 million to expand the customer base for its software, which helps verify financial transactions such as refunds and insurance claims. Sandbox Industries of Chicago and San Mateo, California-based Forgepoint Capital led the round. Washington, D.C.’s Ardent Venture Partners and Santa Monica’s MTech Capital also took part. Forgepoint and Ardent led Verituity’s $10 million Series A round in 2021. Started in 2020, Verituity’s business has skyrocketed from processing roughly $13 million in payouts in 2022 to over $2.6 billion in the past year, according to investor Forgepoint. Customers include financial giants such as BNY Mellon, Citizens Bank and Assurant. MasterCard inked a partnership with Verituity earlier this year. (DC Inno)
Becoming a chief financial officer requires much more than just being a good accountant or number cruncher.
Indeed, the Journal of Accountancy in 2023 reported a noticeable shift of the top finance officer’s job from being a “CF-No” — or someone who just pulls tight the purse strings — to the “CF-Know.”
That’s a leader who has a “holistic grasp on the entire business and how it creates value and who uses that knowledge to provide insight,” Tom Hood, executive vice president of business growth and engagement at the Association of International Certified Professional Accountants, told the journal.
“Being a CFO and head of finance requires a particular mindset,” says Anna Amirsoltani, controller with McLean-based independent wealth management firm Cassaday & Co. “You need to be passionate about finance. It’s no longer just about number crunching.”
Understanding the value of operational know-how, as well as having a keen attention to human resources and company culture, are all priorities for the modern-day CFO. Considering the changing roles and expectations of CFOs begs the question of what truly prepares professionals to step into these C-suite positions of power — and what they’ve had to learn along the way. Virginia Business spoke with CFOs from across the commonwealth to understand what it takes to become a successful finance executive in today’s business world.
A multifaceted job
Dale Young didn’t always know he wanted to be a CFO. In fact, he wasn’t even sure he wanted to be an accountant. He spent most of his childhood in Chicago dreaming of becoming a professional tennis player some day — a passion he pursued into his young adult years. He ended up playing tennis through college on a scholarship, but when it came time to play professionally, Young realized he “wasn’t quite good enough.”
He ended up in accounting mostly because he felt inspired by his uncle, who was a CPA. So, Young started studying accounting while at Tulane University. And “once I decided on that, I had no other interest in really doing anything [else],” Young says. “My career progression is really based more on personal circumstance than anything.”
The family connection driving his career didn’t stop with his uncle. Young, who is a dual Canadian and U.S. citizen, also has Irish citizenship from his marriage. “Because of those citizenships, I was able to work in different parts of the world without having a work visa,” Young says. “That had a profound impact on me because, to date, I’ve spent around 11 or 12 years living and working outside of the U.S.”
He’s had a variety of work experiences, with finance and accounting-related roles at Marriott, Diamond Resorts and a private equity firm. Now Young serves as chief financial and administration officer for RecruitMilitary, a Chesapeake military-to-civilian recruiting company where he’s worked for nearly five years.
Amirsoltani also earned her stripes working in a variety of industries, including the corporate office of a restaurant and hotel business and for the Smithsonian Institution.
“These experiences — combined with my education — have provided me with extensive knowledge and expertise and solidified my decision to build a career in finance,” she says.
Jackson G. Green, chief financial and compliance officer with Roanoke-based Goodwill Industries of the Valleys, suggests seeking “broad experience in your education, interests, roles, organizations served and professional relationships.”
Like Young and Amirsoltani, Green has led a diverse career. He’s held jobs with an architecture and engineering firm, a venture capital-funded tech company and a research company as it issued its IPO. Plus, Green got his start in public accounting, “which gave me broad exposure to many industries and companies — public, private, nonprofit, governmental, closely held and such,” he says.
Dale Young, chief financial and administration officer for Chespeake-based RecruitMilitary Photo by Mark Rhodes
While Young’s background in accounting and finance roles culminated in landing his role as RecruitMilitary’s CFO, his job goes beyond traditional number crunching. Young sees his role as being multifaceted: understanding operations and sales; communicating the business’ story to internal and external stakeholders; developing strategies to improve the business; and focusing on human resources.
“Those four things transcend very differently from what I would call controller work or the daily accounting function that people may think of traditionally,” Young says. “The No. 1 thing you need to understand is where people are and how they’re doing, and what they need to get the job done, and what they need to make them happy.”
Green also approaches his role from a variable perspective. He spends at least 25% of his day on strategic planning and forecasting; another 25% on building, supporting and guiding his teams; another quarter on current projects and analyses; and the remaining balance on “nurturing and maintaining critical relationships with stakeholders,” as well as dealing with any unplanned operational situations or challenges that arise.
Preparing to become a CFO
Beyond professional experience, top accounting and finance executives agree that education was foundational to their interest in and dedication to their profession.
For instance, Amirsoltani says she always had a passion for finance, recalling her strong interest in board games Monopoly and Power Grid, “which made choosing business school an easy decision.” She earned her bachelor’s degree in accounting and financial analysis from the State University of Trade and Economics in Kyiv, Ukraine, and then received her CPA certification. This year, she enrolled in an executive program at Columbia Business School “aimed at enriching the knowledge of CFOs.”
For those aspiring to one day become CFOs, Amirsoltani says, “one of the most important factors, I believe, is natural curiosity and willingness to learn,” which can include pursuing a CPA, CMA or MBA. “Staying up to date with industry trends, best practices, technology and networking has been very beneficial for me.” She enjoys learning about cybersecurity and artificial intelligence, both of which stand to have a profound impact on accounting and finance — and the entire business world.
Increasingly, human resources has also become a critical part of the CFO’s role — and that’s something not all financial professionals are adequately prepared for by their schooling. Rather, it’s something they must acclimate to on the job and express interest in.
“I’ve always been fairly outgoing and fairly communicative with people, both on a personal and professional level,” Young says. “But understanding the people impacts on an organization all the way down from senior leadership to the [person] starting out in the lowest level jobs” is as important a part of his job as financial forecasting. That means Young makes decisions not only from a “balance sheet point of view,” he says, but also from an individual employee satisfaction perspective.
Amirsoltani also stresses the importance of having a mentor throughout one’s career, especially someone outside your firm, to continue to offer challenges and provide guidance.
Having a mentor “is especially advantageous, as it provides a unique opportunity to gain unbiased perspectives and feedback,” she says. Attending professional conferences, webinars and finance events are also “essential,” Amirsoltani says.
“Networking helps me stay informed about industry trends and developments,” she says.
A pathway to CEO
Jackson G. Green is chief financial and compliance officer with Roanoke-based Goodwill Industries of the Valleys. Photo by Natalee Waters
While being a chief operations officer, executive vice president or president of a company can provide a predictable path to becoming a CEO, it’s actually becoming far more common for CFOs to transcend to the top leadership position due to their expanded responsibilities.
“It’s a very exciting role but can come with lots of high pressure,” says Amirsoltani, who also serves as a key strategic adviser to the CEO and the board, providing financial insights that ultimately drive business decisions.
“As a CFO, you’re the right-hand person to the CEO,” she says. “You need to thoroughly understand your business, treat the company as if it’s your own and ultimately think like an owner.”
Thinking like the CEO lends itself well to ultimately landing that top position. About 40% of all global CEOs stepped into their role directly from being a CFO, COO or head of division, according to executive search firm Heidrick & Struggles.
Getting even more granular, 33% of S&P 500 CFOs who changed jobs in 2022 became CEOs, a massive jump from 8.8% in 2021, according to research by executive search firm Russell Reynolds Associates. Perhaps the most well-known example of this type of transition was Indra Nooyi, who served as chairman and CEO of PepsiCo from 2006 to 2019 after serving as the Fortune Global 500 company’s president and CFO.
Former CFOs make for strong CEO candidates because they’re forced to understand nearly all aspects of a business.
Being a CFO “is not the easiest role and, I would argue, probably the most difficult role to ascend to,” Young says. “If you look at Fortune 500 companies, or even Fortune 1000, or up and down the line — even into private businesses — you see a large proportion of people who start off in a CFO role that ended up … a CEO.”
That’s because being a CFO teaches a professional to not only know their own job, but everyone else’s, Young adds.
Being a CFO also requires flexibility and continued learning.
“Like many who pursue accounting careers, I tend to be risk-averse in my nature,” Green says. “I’ve had to learn through the years to better balance risk and return and to be comfortable with making decisions with only 80% of the desired information.”
Nearly three years after announcing its initial plans, Mediterranean fast-casual restaurant brand Cava has opened a production and packaging facility in Augusta County‘s Mill Place Commerce Park. The company held a ribbon-cutting ceremony for the facility in May.
The Washington, D.C.-based company invested roughly $35 million to open the 55,000-square-foot facility to help centralize production of Cava’s signature packaged dips and spreads. First announced in September 2021, the Verona operation now serves 323 Cava restaurants across the country, with capacity to serve up to 750 locations. The facility features a low-emissions, energy-efficient carbon dioxide refrigeration system and high-pressure processing, a cold pasteurization technology that helps retain flavor and nutrition. Those equipment investments increased Cava’s initial capital outlay, but the company says it will save costs over time, eliminate third-party shipping and control a critical food safety step.
“We are really excited to welcome Cava to Augusta County and specifically our commerce park. Recruiting manufacturers is one of our top priorities, so Cava is a good fit for the county,” says Rebekah Castle, Augusta County’s director of economic development and marketing. “Around 22% of the county’s workforce is in manufacturing, so our local labor pool is well-trained to support Cava’s goals as well.”
As of May, the facility employed 32 Virginians, with plans to staff up to 52 employees working a couple of daily shifts, says Cava Chief Manufacturing Officer Chris Penny.
“We built the Verona facility with expansion in mind, including our physical footprint. We expect a very linear growth over the next five or so years, and plan to steadily invest more capital into the facility, whether storage [or] equipment, as we open new restaurants,” Penny explains.
The Augusta County facility is strategically located along the Interstate 81 corridor, an important artery for East Coast commerce.
Its break room “overlooks the mountains and has a beautiful sunset. We really wanted to design a welcoming environment for our employees and consider how they feel when they show up to work, as well as how we show up to them,” says Penny.
At full capacity, the facility can process more than 100,000 pounds of product a day, amounting to over 4 million pounds of tzatziki alone annually. The Verona facility joins an existing Laurel, Maryland, production hub, focused on Cava’s rapidly expanding retail business in grocery chains like Whole Foods Market and Giant.
Buchanan and Tazewell counties’ businesses will soon receive a needed signal boost, thanks to six cell towers under construction across the Route 460 corridor. The towers will increase wireless access along 20 miles of U.S. 460, from Red Ash in Tazewell to Vansant in Buchanan. It’s not a moment too soon, according to businesses that suffer daily from challenges caused by the current coverage gap.
“This four-lane highway provides access to two of our major industrial parks, as well as multiple town centers. When this new infrastructure is in place, these sites will become more marketable and the region [will be] more attractive to new business and industry,” Scotty Wampler, co-executive director of the Virginia Coalfield Coalition, which is responsible for the project, said in an email.
Upon completion of the six-tower Route 460 project, the VCC will have built a total of 17 towers throughout Southwest Virginia over a dozen-plus years.
Funding for the $3.6 million wireless project was secured from multiple sources, including the Appalachian Regional Commission, the Virginia Coalfield Economic Development Authority, The Thompson Charitable Foundation and the Virginia Department of Energy’s Abandoned Mine Land Economic Revitalization program.
Cell coverage gaps have cost the 3,000-acre Southern Gap Business Park potential tenants, says Matthew Fields, executive director of the Buchanan County Industrial Development Authority, which owns the park. “This cell tower project is going to be a great recruiting tool for the park. If you’re trying to show property to prospects and they’re not able to make a call or get a text out, or you can’t reach them to give directions, they’re going to write us off immediately,” says Fields.
Paul’s Fan Co., which manufactures, installs and services ventilation systems throughout North America, is one such Southern Gap tenant. “We really, really need the help here in Southwest Virginia; not having cell coverage really affects our productivity,” says Todd Elswick, the company’s president. “We have trucks coming in and out; these drivers cannot find us because of the lack of good GPS, and then they have no way to communicate with us when they’re here because of the lack of cell coverage.”
Tazewell County’s Bluestone Business and Technology Park is the other industrial park affected.
Construction on all six towers, including service activation, should be complete by fall 2025, according to Wampler.
It’s appropriate that Viennasoftwarestartup Antithesis is housed in the former headquarters of Ringling Bros. and Barnum & Bailey Circus’ parent company. After all, Antithesis emerged from stealth mode in February to announce it had raised a Jumbo-sized $47 million in seed funding.
Founded in 2018, Antithesis is an AI-powered cloud platform for autonomously debugging and continuously testing reliability of software. It was developed by a team who previously worked for FoundationDB, a Vienna-based tech startup specializing in databases that was acquired by Apple in 2015.
The five-year seed round was led by Amplify Partners, Tamarack Global and First In Ventures. Angel investors included New York tech firm Yext’s founder, Howard Lerman, and CEO, Michael Walrath.
Antithesis co-founder Will Wilson says the company’s focus is to identify serious bugs and vulnerabilities within software that often evade human detection. “We’re finding the kinds of problems that are very hard for human beings to discover or reproduce and the ones that maybe we didn’t think to go looking for.”
In the highly competitive world of tech startups, it’s not unusual for companies to operate silently for a while before publicly unveiling a new technology or product, and Antithesis was no exception to this strategy.
“From the ground up, we had to build some really new things and some technology that was very hard, and we wanted to be able to focus on that without a lot of distraction and without giving any potential competitors a heads-up about what we were doing,” Wilson says. “And we were very lucky that we were able to raise a lot of money … and hire lots of great people and get lots of great early customers while still being stealth.”
Jonathan Perl, a partner at Colorado VC firm Boulder Ventures, invested when the startup began seeking capital in 2019. “These guys were doing something ambitious in the quality testing part of software development,” says Perl, “and we thought that was a big deal.”
Antithesis has found advantages in the NoVa region’s quality of life, stability, and highly skilled labor pool from government contracting.
“There’s a lot of really great talent in Northern Virginia, especially among engineers,” Wilson says. “They really know their stuff when it comes to computers … but unlike in San Francisco, we’re able to keep them for the long haul.”
This year, 24 Virginia companies made Fortune magazine’s 70th annual Fortune 500 list, which ranks the nation’s largest corporations by total revenue.
Several companies’ fortunes rose, with top-ranked Virginia company Freddie Mac moving up nine spots to No. 36 on the
overall Fortune 500, posting $108.05 billion in revenue last year.
Meanwhile, Virginia’s second-ranked company, beleaguered aerospace and defense contractor Boeing, rose six spots to No. 52 on the Fortune 500. Boeing President and CEO Dave Calhoun plans to step down amid ongoing scrutiny of production problems and fallout from a January incident in which a panel blew out of a Boeing 737 Max jet cabin in mid-air. Boeing agreed in July to plead guilty to federal fraud charges stemming from two fatal crashes.
Fellow aerospace and defense company RTX ranked No. 3 among Virginia companies on the Fortune 500, ascending two spots to No. 55.
Also notable this year was global hotelier Hilton, which jumped 42 spots to No. 389, cementing its post-pandemic turnaround after dropping off the Fortune 500 in 2021 and 2022.
The Virginia company with the biggest slide on this year’s Fortune 500 list was Fortune 500 IT company DXC Technology, which slipped 39 places to No. 294.
Retired U.S. Coast Guard Rear Adm. William G. Kelly covered a lot of ground during his first year as president of Christopher Newport University.
“I wanted to commit myself to listen and learn, so I invited students to walk with me at 6:30 a.m. every single Wednesday,” Kelly says, estimating that about 15 students and faculty members took him up on his offer each week to make the 2-mile trek around the university’s Newport News campus.
One thing that stood out to Kelly from their discussions, he says, was “the quality of the students. Folks were respectful. They asked me, ‘How are you doing?’”
Before taking the helm as Christopher Newport’s sixth president in July 2023, Kelly served as the 42nd superintendent of the U.S. Coast Guard Academy in Connecticut, where, he says, “I truly enjoyed engaging with young people going into the Coast Guard and their families.”
Prior to that, Kelly was stationed with the Coast Guard in Washington, D.C., as an assistant commandant for human resources, responsible for carrying out the armed service branch’s diversity and inclusion strategic plan.
A native of Yonkers, New York, Kelly is himself a 1987 graduate of the Coast Guard Academy and earned his master’s degree in instructional systems design from Florida State University. He and his family moved 15 times during their years with Coast Guard, including a stint in Newport News.
Much of Christopher Newport University‘s relatively short history occurred during the tenure of former Republican U.S. Sen. Paul S. Trible Jr. CNU’s fifth and longest serving president, Trible led the university for 26 of its 64 years, from 1996 to 2022. (Adelia Thompson, the university’s vice president for advancement, external engagement and the arts, served as interim president between Trible and Kelly.)
Under Trible’s administration, the commuter school was transformed into a residential campus with dormitories, a student union, a theater, a concert hall and a baseball stadium. His key accomplishments included growing the university’s endowment from $300,000 to more than $64 million.
However, Trible’s legacy was also complicated by “a decline in Black presence, both on campus and in the adjacent neighborhood,” according to a December 2023 investigative report from ProPublica, the Virginia Center for Investigative Journalism at WHRO and The Chronicle of Higher Education. Under Trible’s stewardship, the article reported, “the university pursued policies that thinned the ranks of Black students and faculty even as its continuing expansion eradicated a nearby Black community.”
“We have work to do in that area,” Kelly acknowledges. “We need to do better jobs of showing this is a campus you can come to. We need to make sure we are serving all of the community.”
Strained relations between the university and the local Black community can be traced back to the 1960s, when Shoe Lane, a predominantly Black neighborhood, was dismantled to make way for the school’s expansion.
Today, only a handful of Shoe Lane residents remain near and on CNU property. In April, CNU and Newport News Mayor Phillip Jones announced the formation of a joint task force to research Shoe Lane’s removal and assess the impacts of that decision in subsequent decades, according to a CNU news release, with an aim of paving “the way for informed and equitable strategies moving forward.”
One of CNU’s strategic priorities, announced in March, is to “enhance the overall quality of life in Newport News and Hampton Roads” by being a resource “for residents who seek learning opportunities and for organizations who seek assistance in solving complex problems.”
CNU pledged to be a major contributor to the regional economy and workforce and to provide internship and service opportunities for students from the area.
Another new strategic CNU priority is to “create a stronger culture of inclusion” that prepares students to thrive in a diverse, interconnected world.
To that end, Christopher Newport has stepped up its efforts to recruit students both from its neighboring communities and from around the world.
Funded by a grant from the State Council of Higher Education for Virginia, the university is working with 17 high schools in Hampton Roads communities to help low-income and first-generation students make a successful transition to college.
Efforts to recruit students from nearby schools aren’t new, says Dean of Admission Robert J. Lange III. Before Kelly’s arrival, “we were headed in the right direction,” Lange adds, but “I think President Kelly has energized efforts. He’s put his money and authority where his mouth is,” in positioning CNU as a hometown university for the area.
“We’re in every one of those schools. We counsel them through the process. It’s high-touch,” continues Lange. “It’s allowed us to offer direct admission through the Common Application,” a single online form used by more than 900 colleges and universities. Even students who aren’t immediately accepted profit from the experience, he says, because “if you’re not now eligible, it tells you what you can do to become eligible. It demystifies the process.”
CNU’s signature program, he says, is Community Captains, an early admission, two-year college preparatory program for Newport News public high school sophomores.
Applications from these targeted schools, which serve a high number of Pell Grant-eligible students, are up nearly 30% compared with last year, Lange says. The university’s outreach program even includes some area elementary and middle schools.
Expanding reach
Kelly (right in blue cap and shirt) leads students and faculty on an early morning 2-mile walk around CNU’s campus. Photos courtesy Christopher Newport University
Back in the days when Christopher Newport was a commuter school without a residence hall, “‘out-of-state’ used to be Richmond and NOVA,” Lange jokes.
Now CNU is expanding its reach, escalating efforts to attract students beyond Virginia. Kelly has launched a new initiative that, beginning this fall, will provide out-of-state students with scholarships that are competitive with affordable mid-Atlantic private schools, Lange says.
The university has added a second out-of-state recruiter, he says, and is putting together an advisory board to help CNU understand how it is perceived by out-of-staters. “We’re flying in school counselors. We’re visiting feeder schools out of state.”
The university also has formed a partnership with a company that is able to identify the best prospective students, based on test scores and activities. “We offer them conditional admission without them having to go through full applications,” says Lange. “We build their applications.”
As for international students, their numbers at CNU have historically been quite low because “we have never had a sustained international [recruitment] effort,” according to Lange, but “with President Kelly, it is now a priority.”
Under Kelly’s leadership, CNU is in the process of establishing a partnership with a company that helps place foreign students. It can also assist these students post-graduation with visa applications, Lange adds, helping to keep new talent in Virginia.
With all these efforts, Christopher Newport reports it’s on pace to receive a record number of applications for the 2024-25 academic year.
Applications from students seeking to transfer to CNU from Virginia community colleges and other institutions for 2024-25 were up by about 13% over last year as of early July, according to Jim Hanchett, chief communications officer. He declined to specify the number of applications received.
Students of color/first-time college students made up 26.9% of the undergraduate population in 2023-24, Hanchett says. As of early July, the percentage for the coming year is at about 35%.
Solving problems
Another university strategic priority set out in March is to “advance the power and promise of the liberal arts” in a way that helps graduates “solve real world problems.”
One option that helps meet that strategic goal is the President’s Leadership Program (PLP), a four-year, 18-credit minimum leadership studies minor. Courses cover topics such as values and ethics and theories and perspectives on leadership.
PLP was established in 1998, and there are about 1,100 students currently in the program, “which is roughly one-third of the entire student body,” notes PLP Director Lacey Grey Hunter.
Hunter says Kelly been “very, very” involved with the program since his arrival on campus. “One of my favorite things is PL Pizza, where [Kelly has] met with groups of 10 to 15 students to share pizza” and to discuss the university’s direction, Hunter says. “They ask him questions. He asks questions. He is transparent. They’ve asked him about challenges in his own world.”
Kelly has addressed PLP students about “what it is like to follow a common mission,” Hunter adds. “He talked particularly about 9/11” — when Kelly was on Coast Guard duty, standing watch off the ports of New York and Boston following the 2001 attacks — “and what it means to agree, if needed, to give your life for something.”
In June, Kelly welcomed incoming PLP freshmen to campus to take part in the four-day “Leadership Adventure,” in which students participated in leadership development sessions, team-building events and outdoor activities.
Group activities were designed to bring students together to collectively solve problems or achieve a shared group goal, according to Hunter. Examples include rock wall climbing, escape room events,and building a device with limited supplies to protect a raw egg dropped from the third floor.
Leadership Adventure feels like a summer camp, she adds, “because the students are divided up into cabin colors and spend a heck of a lot of time together.”
Getting an edge
CNU also takes pride in becoming the first school in Virginia to offer an undergraduate certification in research and creative activity. The certificate, which requires 12 credit hours of coursework, will be available this fall.
Undergraduate research is one of CNU’s four educational pillars, explains David A. Salomon, director of student research and creative activity. The others include study abroad, internships and service to the community through the school’s CNU Engage program.
The research and creative activity program got off the ground eight years ago, but SCHEV granted its certification this past spring.Now, “it shows up on [students’] transcript,” Salomon says. “Colleges and companies can see the evidence of their experience.”
Students can research any topic, including “the complexities of scientific phenomena, delving into the nuances of historical events, or examining the intricacies of social dynamics,” he says, no matter whether it’s relevant to their majors. The process produces “students who are more marketable from every perspective. It gives them that much more of an edge.”
For the 2022-23 school year, 37% of all undergraduates at CNU engaged in research or creative activity before graduation, surpassing a 30% goal set by CNU, according to Salomon.
It’s not just the academic programs at Christopher Newport that the new president finds impressive, however. Kelly, who played baseball for the Coast Guard Academy, praises the school’s “phenomenal athletics program,” as well.
During Kelly’s first year on campus, 16 teams were represented in NCAA championship events, CNU’s women’s sailing team advanced to nationals, and the university’s cheerleading squad won a national championship.
“The Captains compiled an overall record of 247-78-5, for a winning percentage of .756, the fourth best ever in CNU
athletic history,” according to Director of Athletics Kyle McMullin. What’s more, 21 student athletes received All-American recognition for their academic and athletic accomplishments for the 2023-24 school year.
Kelly spent much of his first year at Christopher Newport listening. His second year as president, he says, will be about strengthening relationships and being “the No. 1 storyteller for the university.”
That story, Kelly says, is going out to “Richmond, to alumni, to community members who want to support something bigger than themselves.” Now is not a time for dramatic transformation, he adds, but a time to “move the university forward. We’re not in the process of having to rebuild. It’s a time to evolve.”
At a glance
Founded Founded in 1960 as Christopher Newport College, an extension school of William & Mary, Christopher Newport became independent of W&M in 1977 and received university status in 1992. The public university is named for Christopher Newport, the privateer and ship captain who helped establish the first permanent English colony in North America at Jamestown in 1607.
Campus Christopher Newport university is located in Newport News. Its 260-acre campus features buildings with a mixture of architecture styles, from the Greek- and Roman-inspired Mary M. Torggler Fine Arts Center, with its columns and cascading glass rotunda, to the sleek and modern Ferguson Center for the Arts, a regional venue that has hosted touring Broadway shows and famous performers such as Tony Bennett, John Legend and Liza Minelli.
2023-24 enrollment
4,407 undergraduate students
96 graduate students
2% international undergrads
28% minority enrollment
93% in-state undergrads
Employees
Approximately 285 faculty and 715 staff
Academic programs
Christopher Newport University offers more than 90 areas of study, from fine and performing arts to computer engineering and neuroscience. CNU has traditional two-year graduate programs as well as five-year bachelor’s degree and master’s degree programs in applied physics, computer science, environmental science and teaching.
Tuition, fees, room and board*
In-state residents: $28,711
Out-of-state: $43,348
*2023-24 school year Source: Christopher Newport University
On June 13, Virginia Business honored the winners of the 2024 Virginia CFO Awards during the magazine’s annual black-tie banquet at Richmond’s Jefferson Hotel. Photos by Rick DeBerry.
1.L to R: Virginia CFOAwards nominee Paul Huckfeldt of Hooker Furnishings and wife, Annette; 2024 CFO Awards winner Joel Flax of Cohen Investment Group and wife, Gail.
2.L to R: Courtney Browder, Virginia CFO Awards nominee Juanita Parks, Charlie Knight and Krista Gillespie of
3.L to R: Behrad Amirsoltani and wife, Anna, a Virginia CFO Awards nominee with Cassaday & Company; Craig Brown and wife, nominee BJ Brown, both from the Law Office of Craig A Brown.
4.On July 9, Colonial Williamsburg Resorts broke ground on The Shoe, a new, Rees Jones-designed, nine-hole, par 3 gold course. Colonial Williamsburg’s first new golf course in 33 years, it’s expected to open in summer 2025 at the Golden Horseshoe Golf Club. L to R: Jim Thomas of Williamsburg; Colonial Williamsburg Foundation President and CEO Cliff Fleet; Williamsburg Mayor Doug Pons; and Keith Jackson, Colonial Williamsburg’s vice president of hospitality. Photo courtesy Colonial Williamsburg Resorts.
5.L to R: Chris Harman and teammate Josh McCartney, workers for Kentucky energy company Iron Senergy, simulate performing first aid on a volunteer during a mine rescue contest in late June at the Southwest Virginia Higher Education Center in Abingdon. The event was co-hosted by National Mine Rescue Association Post 7, the Metallurgical Coal Producers Association, the Mine Safety and Health Administration, and the Virginia Department of Energy. Photo courtesy Virginia Energy.
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