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Rick Weddle, President & CEO, Announces Plans to Retire

Hampton Roads Economic Development Alliance CEO announces plans
to retire at yearend. 

NORFOLK, VA., May 31, 2018. The Hampton Roads Economic Development Alliance (HREDA), the region’s lead economic development agency, today announced Rick Weddle’s retirement from the role of CEO, effective December 31, 2018. C. Grigsby Scifres, HREDA’s board chair, announced that Weddle will continue to fulfill his duties and responsibilities through the end of the year to ensure a smooth and effective management transition. 

"After more than three decades in leading nonprofit regional economic development organizations, I've decided it's time to retire and begin the next phase of my life," said Rick Weddle, HREDA CEO. "Over the last two years, we've assembled a seasoned and diverse team, expanded our economic research capacity, reorganized our board governance and stakeholder engagement model, and completed competitive market research to support both an aggressive new Go to Market strategy and a long-term regional business and job growth improvement plan. As efforts get underway to launch a new five-year funding campaign, it is the perfect time to transition to a new leader in 2019. I am proud of what the organization has accomplished and am excited about what HREDA will be able to achieve going forward." 

Weddle joined HREDA in 2016, after leading highly successful economic development efforts in Orlando, FL, the Research Triangle Park (RTP), Phoenix, AZ and Toledo, OH. 

"The Alliance is a vitally important development organization at a critical time in the economic life of the Hampton Roads region, and I've been honored to serve as chair for the past 15 months," said Grig Scifres. I’ve enjoyed working with Rick as we successfully developed and implemented a new board governance model, conducted important market research and developed ambitious yet realistic plans for future regional business and job growth. There remains a huge strategic opportunity for the Alliance and the region – securing the resources to fully implement the proposed IBM-PLI Go to Market strategy, enhancing HREDA’s role as a catalyst for economic growth, engaging more frequently and effectively with our investors and stakeholders and continuing to market the region’s business case and economic opportunities to the world. I look forward to the next chapter of HREDA's evolution and to transforming the Alliance into a dynamic and comprehensive regional economic development organization that can generate much needed business growth, jobs and capital investment in the years ahead." 

"We'd like to thank Rick for the significant contributions he's made over the last two years – his impact will be long felt," said Scifres, HREDA Board Chair. "A search committee will be formed to begin the process of identifying and recruiting a new CEO. Our plan is to have the new CEO on board by the end of the year to ensure a smooth leadership and management transition." 

For additional information, contact Grig Scifres at 757.473.5370, or email gscifres@williamsmullen.com 

 
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