Wednesday, May 29, 2024

Statewide: Triad region, January 2015

The Triad may trail some North Carolina metro areas in the pace of economic growth, but it leads in the number of highly rated chief executive officers, according to Institutional Investor magazine. The publication cited VF’s Eric Wiseman and Lorillard’s Murray Kessler as the best CEOs in their respective industries based on ratings by 2,250 money managers and industry analysts. Both companies are based in Greensboro. A third CEO, David Congdon of Thomasville-based Old Dominion Freight Line, ranked among the top three CEOs in the airfreight and surface-transportation sector. No other North Carolina executives made the 2015 list. The magazine considered eight attributes, including quality of answers to inquiries and transparency of financial reporting. Shares in the three companies have outperformed the Standard & Poor’s 500 index over the last one, five and 10 years through mid-December. VF shares have increased almost fivefold in five years. Wiseman was named CEO in January 2008. Since Kessler joined Lorillard as CEO in September 2010, shares of the tobacco company have gained about 130%. He is expected to join Winston-Salem-based Reynolds American’s board after its $25 billion acquisition of Lorillard is completed. Old Dominion has soared more than sixfold in the last five years as the company gained market share amid the economic recovery. Congdon became CEO in 2008.


HIGH POINTBNC Bancorp, parent company of Bank of North Carolina, will acquire Roanoke, Va.-based Valley Financial Corp. for $101.3 million in a stock deal. Valley Financial has nine branches in Roanoke and Salem, Va., and $857 million in assets. Based here, BNC has 52 branches and about $4.1 billion in assets. The deal is expected to close in the second quarter.

WINSTON-SALEMWake Forest Baptist Medical Center began construction on a 168,000-square-foot building for the university’s school of medicine at its Innovation Quarter center. It will be paid for with $50 million in private donations and $50 million in historic-preservation tax credits. Expected to open July 2016, the project is one of the last to qualify for the state credits, which expired Dec. 31. Baltimore-based Wexford Science & Technology will develop the school and an adjacent 115,000-square-foot building into offices, labs and retail space.

WINSTON-SALEM — Andrew Gilchrist, 42, will become chief financial officer of Reynolds American March 1. He will succeed Thomas Adams, 64, who has had the job since 2008 and is retiring. Gilchrist was president of subsidiary R.J. Reynolds Tobacco from 2011 until October, when he was named executive vice president of the parent company. Ricardo Oberlander was elected a director, replacing Neil Withington, who retired after 10 years.

MOUNT AIRY — Winston-Salem-based Hanesbrands will add 75 jobs to the 230 at a knitting plant here to meet increased demand for its Champion and Hanes athletic socks. The new jobs will pay an average annual wage of $44,000, higher than Surry County’s $35,175.

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