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Delaware Business Times
DE222 Honoree: Vandell Hampton, Jr.
Alma Maters: Delaware State University, Wilmington University. Boards: NU Friendship Outreach; African American Alliance of CDFI CEOs, Woodlawn Trustees, Wilmington Neighborhood Conservancy Land Bank, Regional Foundation. Q&A: What was your first job? “Burger King (I last two weeks).”. As president CEO of True Access Capital, Vandell Hampton Jr. leads...
VIEWPOINT: Debunking Arguments Against House Bill 203: A Wealth of Resources for Educators
As a life-long Delawarean and long-time advocate of financial literacy, I’ve been disheartened to see opposition to House Bill 203. The primary concern? The purported financial impact of implementing a personal finance curriculum in our schools. But let’s take a closer look at the arguments. Some think that...
ILC Dover bought by public company for $2.3B
NEWARK — ILC Dover, a specialized engineering development and manufacturing company, was sold to a rapidly growing industrial company for $2.3 billion earlier this week. Ingersoll Rand Inc., a public company based in North Carolina that invests in diversified machinery, also paid ILC Dover parent company New Mountain Capital an earnout tied to the company’s.
Delaware hospital cost review board bill sparks debate
DOVER — Health care leaders are speaking out as legislators discuss rising hospital costs and statewide spending in Delaware, notably a bill that creates a politically-appointed cost review board. House Bill 350 as originally proposed would effectively remove budgetary authority from local-led hospital boards of directors for every hospital...
DE222 Honoree: Ben du Pont
Boards: Longwood Gardens, Tower Hill School, ZipCode Wilmington, UrbanBound. Q&A: Best advice for your younger self? “Do more sit-ups and eat less.”. As one of the most visible du Pont family heirs, Ben du Pont has supported the entrepreneurial vision advocated by his late father, former Gov. Pete du Pont IV. A co-founder and managing director at the venture capital fund Chartline Capital Partners, du Pont makes investments in enterprise and industrial technology companies working to make core industries more efficient, reliable, and safe. This year the firm started working with Discover Bank to invest in fintech startups reaching underserved populations. He also co-founded ZipCode Wilmington, which teaches coding for needed local jobs, and saved the Dupont Country Club in 2018.
People on the Move: March 29
People on the Move is a rundown of recent hirings, promotions, appointments and other notable movements by professionals in the state. If you’re interested in submitting an entry, please contact news@delawarebusinesstimes.com. Emmanuel Mensah, M.D., MBA, has been appointed chief medical officer of ChristianaCare’s Wilmington Hospital. In this role,...
Delmarva Power buys $190M in services by diverse suppliers
NEWARK — Delmarva Power purchased $190 million in goods and services from diversity-certified suppliers in 2023. This amount represents 40% of the company’s total purchases for the year, marking a $50 million increase from 2022. “Supplier diversity is just one of the ways we support our customers and...
DE222 Honoree: Ronald Baron
Alma Maters: Providence College, Georgetown University. Q&A: Favorite thing about Delaware? “Access to great places and people!”. As president and CEO of Del-One Federal Credit Union, Ronald Baron leads Delaware’s largest credit union with more than 75,000 members statewide. Relying upon a decades-long career that had included executive roles at public and community banks, Baron has driven deposit growth and loan activity at the Dover-based Del-One. Outside of the bank, Baron has driven Del-One’s support of the Springboard Collaborative, a nonprofit tiny-home village in Georgetown that serves the state’s homeless population.
Hologic awarded in Coolest Thing Made in Delaware contest
DOVER — The winner is in after nearly 20,000 votes from all over the state. The Coolest Thing Made in Delaware is the 3D Mammography System by Hologic, Inc. Winning the first-ever Coolest Thing Made in Delaware Contest hosted by the Delaware State Chamber of Commerce is more than just an award for Hologic, Inc. It marks the start of a new chapter for some of its employees at the Newark location.
Chemours reveals audit results, regulators ask questions
WILMINGTON — Chemours is cooperating with information requests from both regulators and federal prosecutors after an internal probe found that top three executives shifted cash flows to trigger a higher bonus payout. Within five days after appointing new leadership, Chemours finalized its 2023 annual report and fourth quarter earnings...
DE222 Honoree: Kris Vaddi
Alma Maters: Andhra Pradesh Agricultural University, University of Florida. Boards: Acellus Health, University of Delaware’s Research Foundation and Biopharmaceutical Innovation. Q&A: What’s something interesting about you that isn’t on your resume? “My love for movies and interest in making one someday (ideally Bollywood). Kris Vaddi spent...
CEO of the Year application period opens
The Delaware Business Times is delighted to open the application period for the fourth annual CEO of the Year award, which will once again recognize the First State’s best leaders in companies of all sizes. “Once again, we’re excited to once again spotlight the work top executives and leaders...
Harvey Hanna acquires Rehoboth motel for $4M
The 23-room Crosswinds Motel on Rehoboth Avenue next door to Dogfish Head’s two restaurants was sold for $4 million to a HHA subsidiary on Feb. 16, according to Sussex County land records. The commercial development firm also manages 16 hotels in Delaware, Maryland and Pennsylvania through its hotel management arm, TKo Hospitality.
Delaware unemployment rate sees little movement in February
Delaware’s unemployment rate continues to stay on track with the previous months, but the national average is slowly rising to meet it, narrowing the gap. February saw a net gain of 700 jobs but 600 less jobseekers in the labor force, according to the monthly report released last Friday.
Slate of long-term care facilities reform bills drafted
DOVER — With the number of Delawareans over 65 expected to grow by 60% from 159,000 in 2015 to more than 263,000 by 2050, a set of four bills regulating long-term care facilities was introduced late last month in the Delaware legislature that its sponsors say are needed to ensure adequate patient care. The organization.
DE222 Honoree: Kelvin Lee
Alma Maters: Princeton University, California Institute of Technology. Boards: Delaware Bioscience Association, United States Manufacturing Innovation Council. Q&A: What was your first job? “Washing glassware in a research laboratory.”. When the University of Delaware looked to host the creation of the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL),...
Delaware Chicken Association, partners announce $2M conservation program
A $2 million investment will soon help some small business owners sustain their operations while enhancing conservation efforts in Delaware for local waterways. The Delmarva Chicken Association announced a new partnership alongside the Alliance for the Chesapeake Bay and the Nanticoke Watershed Alliance, creating a cost-share program for poultry growers in Delaware, Maryland and Virginia seeking to implement conversation-based best management practices.
Morris James to leave Wilmington for Avenue North
WILMINGTON — Delle Donne & Associates has leased out six floors at the $42 million Tower at Avenue North to Morris James, securing a major law firm for at least half of the Class A office space. It also means that the 12-story tower is now three-fourths leased including...
Dignam named Chemours President, CEO
WILMINGTON — Chemours has tapped Denise Dignam as its next leader, within a month of placing President and CEO Mark Newman and other financial executives on leave amid an accounting investigation. The leadership change was announced late Friday afternoon and effective immediately, although Dignam had served as interim CEO...
Affordable Housing bills propose funding, policy changes
DOVER — A package of bills aimed to address Delaware’s housing crisis through incentives, homeowner protections and other policies has been introduced in the General Assembly. In October, the Delaware State Housing Authority (DSHA) unveiled the most recent Delaware Housing Needs Assessment which serves as a snapshot of...
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