End of an era: CVG CEO to retire in 2025
Cincinnati Business Courier
The Cincinnati region's source for local business news & events. Part of the American City Business Journals network.
Candace McGraw has served as CEO of the CVG Airport - Cincinnati/Northern Kentucky International Airport since 2011. Come next summer, she’ll officially step down from the role.
McGraw announced her plans for retirement this week, kick-starting the official search process to find her successor. CVG’s board hopes to have someone in place by late fall, so McGraw can be hands-on with the transition.
It’s big shoes to fill. McGraw led the airport through Comair’s dissolution; Delta Air Lines removal of its hub, followed by a rebound that included CVG landing three low-cost carriers,?including the much-sought after Southwest Airlines;?a British Airways flight; the expansion of international shipping giant DHL and?Amazon’s North American superhub?–?one of the largest economic development projects in the region’s history.
"Candace has an incredible reputation across this industry,” said Michael Bell Bell,?a senior client partner at 光辉国际 , the firm that will helm the search. “You've got a lot to offer. This will be a well subscribed opportunity."
RELATED:
Sign up for the Cincinnati Business Courier's emails to get the latest business news in your inbox. Already signed up and loving the work we do? Consider subscribing now.
Kroger delays expected timing of Albertsons deal due to antitrust concerns
Kroger Co. has moved back its target date to complete the supermarket giant’s $24.6 billion acquisition of rival Albertsons Cos. Inc. due to regulatory concerns.
Downtown Cincinnati-based Kroger , the nation’s largest operator of traditional supermarkets, now expects to complete the deal by Aug. 17. That’s the end of Kroger’s fiscal second quarter. It had previously targeted the end of the first quarter this year.?
Kroger cited discussions with antitrust regulators and legal authorities for the delay. Kroger and Albertsons, the nation’s second-largest operator of traditional supermarkets, have been battling antitrust concerns over the deal since the deal was first announced in October 2022.
“We remain in active and ongoing dialogue with the Federal Trade Commission and individual state attorneys general regarding our proposed merger and divestiture plan,” Kroger officials said in a news release. “In light of our continuing dialogue with the regulators, we are updating our anticipated closure timeline. While this is longer than we originally thought, we knew it was a possibility and our merger agreement and divestiture plan accounted for such potential timing.
“We remain committed to closing the transaction and providing the meaningful and measurable benefits that we promised when we originally announced the transaction."
RELATED:
Food news you can use: A restaurant closes near Kenwood Mall; Nation debuts latest location
Pies and Pints , a gourmet pizza and craft beer restaurant, permanently closed its Kenwood Collection location after a more than six-year run.
领英推荐
The landlord is currently looking for a replacement tenant.
Rob Lindeman, Pies & Pints owner, president and CEO, said the company invested?“considerable resources in the location and our brand.” But Covid make surviving “extremely difficult.”
“The Kenwood Collection never quite developed how the original developers envisioned,”?he said.
RELATED:
Court grants summary judgment in Hilton Cincinnati Netherland Plaza foreclosure lawsuit
The Hilton Cincinnati Netherland Plaza could be sold at sheriff's auction, following a court ruling in favor of the hotel’s lenders, unless the owner pays back debt to its creditors. Hamilton County Court of Common Pleas Magistrate Anita Berding ruled Nov. 17 that the trustees may put the iconic property up for sale, if the hotel’s owner, Greg Power, did not pay the debt it owed within three days of the ruling. An entry adopting that decision was signed by Common Pleas Judge Tom Heekin Dec. 15. The ruling found Power had defaulted on a $72 million loan and the plaintiffs were owed $84.9 million, plus daily interest, from April 1, 2023.
So far no documents have been filed with the Hamilton County Court of Common Pleas indicating the Netherland Plaza's creditors have been paid. Nor does the Hamilton County’s official foreclosure auction site currently list the Netherland Plaza as a running or upcoming auction.
Until documents are filed initiating the sheriff's sale, Power has the ability to work out an agreement with the lenders that could avoid its listing.?
The downtown hotel is currently open and operating under a court-appointed receiver.
Commercial real estate developer Matt Daniels dies at age 59
Matt Daniels, at one time among the most active commercial real estate developers in the region,?died Jan. 11 at the Margret J. Thomas Inpatient Care Center in Blue Ash of liver cancer, longtime friend and mentor Herb Weiss confirmed to the?Business Courier.
He was 59.
Daniels led Bear Creek Capital to new heights. In 2008, its portfolio was reported at $650M nationally, with a local development pipeline of more than $1B. But he faced a slew of legal troubles over the Kenwood Towne Place development, now known as Kenwood Collection. He was found not guilty in federal court on 23 criminal charges related to the giant mixed-use project, which had sat half-finished for years.
Obituary information for Daniels is still pending.
This Weekly Edition was compiled by Courier Digital Editor Liz Engel. Questions? Comments? Send them to [email protected].
Managing Director of JLL Cincinnati
10 个月Amazing leader. Candace did a great job at the helm when Delta left us in a bind. Thanks for the great stewardship.