The Branch Group CEO resigns
Board chairman takes interim CEO post while successor is sought
Roanoke-based construction company The Branch Group Inc. announced Wednesday that CEO Will Karbach has resigned. Ron Oakley, the current chairman of the board, will serve as interim CEO, effective immediately.
Upon the announcement Wednesday afternoon, The Branch Group had not provided a reason for Karbach’s departure and did not respond to immediate requests for comment.
Karbach joined The Branch Group in 2007, serving as president of the company’s Branch Highways subsidiary. While serving as president, he was named as the CEO of the entire family of companies in 2010. The group now includes Branch Civil (which was once Branch Highways), Branch Builds, G.J. Hopkins (mechanical and electrical services) and L.A. Lacy (mechanical and plumbing services). Karbach is also currently a board member of the Virginia Chamber of Commerce.
As CEO, Karbach oversaw operations and development of all four companies. Oakley, who has served on the board since 2018, will assume the day-to-day responsibility for running The Branch Group. The presidents of the four operating companies, as well as the chief financial officer and chief human resources officer, will report to Oakley.
He will remain the chairman of the board and will help to identify a permanent CEO with the board of directors and executive team.
Oakley has worked in the engineering and construction industry for more than 45 years and had recently retired as CEO of design and construction company M+W (now Exyte), which primarily served technology customers. He has also worked with the Virginia Department of Transportation. He played a major role in the Interstate 895 bypass project around Richmond, which was the first Public Private Transportation Act project in the state.
With about $500 million in 2019 revenues and more than 900 employees, The Branch Group is the fifth-largest general contracting company in Virginia. Currently, the firm is working on major projects at Interstate 81 Exit 150, Virginia Western Community College, Roanoke College, Liberty University and an assisted living facility in Culpeper.
This story will be updated as information becomes available.
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