Virginia Port Authority (VPA) chief executive and executive director Stephen Edwards will step down at the end of 2025 after nearly five years at the helm, taking up a new role in the private sector.

Edwards joined the VPA in January 2021 and has overseen a period of steady growth and major infrastructure delivery. The port is nearing completion of its $1.4bn capital investment programme, which has remained on schedule and within budget. Cargo volumes, revenues and earnings all increased during his tenure, along with man-hours worked across the port’s facilities.

The outgoing CEO also played a key role in attracting a record level of port-centric industrial development to Virginia. One of the most significant milestones under his leadership was the successful renegotiation of the long-term lease for the Virginia International Gateway (VIG) terminal. The revised agreement gives the port a defined purchase option and greater operational and investment control at the facility.

“We cannot overstate the contribution that Stephen has provided during his tenure,” said VPA board chairman John ‘Bill’ Kirk III. “Under his guidance, the Port of Virginia has been widely recognized as the highest performing port by customers and users. He has built a strong commercial and operating culture that will serve us well moving forward.”

Edwards called the port’s workforce “one of the strongest in the nation” and said he was confident the organisation would continue to deliver for customers and for the state. “I look forward to monitoring their future contributions to global trade and securing Virginia’s prosperity,” he added.

The VPA said chief administrative officer Sarah McCoy will take over as interim leader once Edwards steps down. McCoy, who has spent a decade at the port, has overseen multiple long-term initiatives and operational improvements.

With six terminals, The Port of Virginia is a major hub port on the US East Coast, handling more than 40 international container, breakbulk and ro-ro vessels each week and offering links to over 200 countries through nearly 30 shipping lines.