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EDITOR’S LETTER


VirginiaBusiness.com SEPTEMBER 2020


How we assembled the Virginia 500


IF YOU CALLED your local mayor or city manager — or, better yet, the governor — how quickly would your call get returned? Tat thought experiment was just one of


several questions I had in mind as we were compiling this, our first annual edition of the Virginia 500. Assembling a list of the state’s most pow-


erful and influential leaders by sector, we took into account a variety of considerations, including — but not limited to — annual reve- nue, newsworthiness, community involvement, diversity, number of employees (in Virginia and worldwide) and how large a presence the organization has in the commonwealth. Some of the people on this list are well-


known, longtime corporate and community leaders, with decades of experience. Still oth- ers are new to their roles but are on the list due to the prominence of the positions they hold or the scope of their responsibilities. It’s also important to note that, while many


of the people on this list are highly accom- plished, inclusion in the Virginia 500 is not an endorsement by Virginia Business. It is simply recognition of a person’s power, influence and importance within their chosen field. Readers will also notice that some sec-


tors are represented by far more people than other sectors. Tese decisions were based on factors such as how many large companies or organizations are in a given industry within Virginia and how that sector contributes to the commonwealth’s gross domestic product. Some sectors are largely dominated by a single company. Due to this, we limited the number of executives from a single company and its subsidiaries to three entries. We noticed some interesting patterns


emerge as we assembled the Virginia 500. For example, power runs in some families. We have at least four sets of siblings (the Cohens, Fines, Ukrops and Xus) represented on the


RICHARD FOSTER RFOSTER@VIRGINIABUSINESS.COM


PRESIDENT AND PUBLISHER Bernard A. Niemeier bniemeier@virginiabusiness.com


EDITOR Richard Foster rfoster@virginiabusiness.com


DEPUTY EDITOR Kate Andrews


kandrews@virginiabusiness.com


list, as well as two father-and-son pairs (the Robertsons and Harvey Lindsay Jr. and his adopted son Bob King). Tis project was inspired by business


publications in other states: Florida 500 by Florida Trend and Dallas 500 by D CEO. I am particularly grateful to Florida Trend Executive Editor Mark Howard for his time and insights. We began the initial work on this project


in summer 2019. Our selection process started with informally reaching out to select business leaders and economic development officials to solicit nominations. However, the majority of this list was assembled by staff research, based on our own knowledge and publicly available sources such as the Fortune 500 and Inc. 5000 lists, annual reports, earnings reports, media articles and news releases. We sent electronic surveys to about 750


people we were considering for the Virginia 500, asking them to provide information such as their educational background, civic involvement, company revenue and staffing information. We also posed some Proust Questionnaire-like queries to the executives under consideration. Teir answers were inter- esting and illuminating, providing us a glimpse into their personalities, passions and private lives. We received nearly 300 responses, which were invaluable tools in assisting us in making our determinations. Despite our methodology, this list of


Virginia’s top business, education and gov- ernment leaders is still somewhat subjective. Our list might not match up exactly with your list. In a business-friendly state with an abundance of thriving companies and execu- tives, it’s impossible to include every leader of consequence, even within a list of 500. So we look forward to hearing your thoughts about who should have made the cut. After all, there’s always next year.


ASSISTANT EDITOR Sydney Lake


slake@virginiabusiness.com


ART DIRECTOR Joel Smith


jsmith@virginiabusiness.com


CONTRIBUTING DESIGNER Sarah Barton CONTRIBUTING WRITERS


Rich Griset, Don Harrison, M.J. McAteer, Jason Roop


VICE PRESIDENT OF SALES AND MARKETING Lori Collier Waran lwaran@virginiabusiness.com


SALES MANAGER Lynn Williams


lwilliams@virginiabusiness.com ACCOUNT MANAGERS


Lindsey Swain DiStanislao lswaindistanislao@virginiabusiness.com


Toni McCracken tmccracken@virginiabusiness.com


CIRCULATION MANAGER Karen Chenault


kchenault@virginiabusiness.com


MARKETING SERVICES MANAGER Lisa Niemeier


VIRGINIA BUSINESS MEDIA LLC Bernard A. Niemeier, Chairman & CEO


Virginia Business (USPS 001-387, ISSN 0888-1340) is published monthly by Virginia Business Publications, LLC, 1207 E. Main Street, Suite 100, Richmond, VA 23219.


Subscriptions: U.S. and possessions: $48. Periodicals postage paid at Richmond, Va. Postmaster: Send address changes to Virginia Business, 1207 East Main Street, Suite 100, Richmond, VA 23219. Copyright 2020 Virginia Business Publications, LLC.


All editorial material is fully protected and may not be reproduced in any manner without prior permission.


For additional reference: SRDS #20A – Business-Metro, State and Regional VIRGINIA BUSINESS PUBLICATIONS LLC


8


VIRGINIA 500


PHOTO BY CAROLINE MARTIN


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