Three directors leave Port board

Three members of Virginia International Terminals Inc., the port’s terminal operator, have resigned.

They include William Grace, Grace Industries; Thaddeus Holloman, Senior VP of Old Point National Bank; and Robert Jones Jr., owner of DD Jones Transfer and Warehouse Co.

The resignations follow the decision by the Virginia Port Authority’s board of commissioners to continue restructuring the organization of the VPA and VIT.

Reasons for their leaving haven't been determined. 

In March, Joe Dorto stepped down as VIT’s president and CEO, saying he was retiring.

Also, earlier this year, the VPA board rebuffed two bids to operate the state-owned marine terminals.

The Virginian-Pilot reported this morning that “VIT will morph from a company with its own board of directors to one wholly controlled by the Port Authority. VIT's board will be an advisory panel only.”

Joe Ruddy, who has been the president and CEO of VIT for about two months, will become the chief operations officer of the realigned organization, the Pilot article said.

Tom Capozzi, vice president for global sales and marketing at VIT, will become the chief commercial officer of the organization, the article said. 

The Port Authority board will hire an executive recruitment firm to find an executive director to oversee the Port Authority and VIT.