Waverton Mourns Death of Company Founder John P. Wright & Announces Next Generation Executive Team
April 1st, 2022 – PORTSMOUTH, VA
It is with profound sadness that Waverton announces the passing of its beloved Founder and Chairman, John P. Wright, who passed away earlier this week at the age of 67. Over the last two years, he valiantly fought cancer while still captaining the Waverton ship on a daily basis. His efforts culminated with a flurry of new property developments and executive recruitment setting the stage for the next generation of Waverton leadership.
His son, John A. Wright, who has been his father’s partner since day one of the Waverton journey issued the following statement on Waverton’s future: “The mission for the future of Waverton will strictly involve building on the solid foundation and principles that John P. Wright put in place some 25 years ago. Over that period of time, we have been extremely fortunate and maintained a company that has proven success through good times and bad. Going forward, we intend to diversify our product and capabilities as market trends and demands change, but most importantly, move the company into the future in a manner that best represents the legacy of my father.”
John A. Wright will remain President & Chief Operating Officer and will be joined by long-time banking partner, Phil Smith, as Waverton’s Chief Executive Officer. A seventeen-year commercial lending executive at TowneBank, Smith brings extensive real estate development and financing expertise including land acquisition, land development, construction, single family subdivisions, multifamily, hotels, shopping centers, retail, industrial, and self-storage.
On his decision to join Waverton, Smith offered the following: “It has been an honor to work with John Wright and his family over the past 17 years. We have been through a number of trying times including the Great Recession, the Pandemic, and the devastating loss of his former business partner, Al Keene. It was during those times that John and his team taught me a tremendous amount, not just about business, but about life, character, and perseverance. I am both humbled and honored to help carry on the legacy that John and his team have built and will miss him tremendously.”
Waverton has bestowed upon John the title of Founder and now Chairman Emeritus in perpetuity. His nephew and nineteen-year private equity veteran, J. Cameron Robinett, has been appointed Chairman of Waverton effective immediately. “These are massive shoes to fill but I couldn’t be more excited to be a part of this team dedicated to building upon my uncle’s amazing accomplishments,” Robinett said. “He had high expectations of himself and those around him. Tough but fair. One with a zeal for learning and a gunslinging entrepreneurial spirit who was beyond generous in offering his talents and resources. We intend to reflect those traits at Waverton as we move forward. The best is yet to come.”
Inquiries: Cameron Robinett (757) 621-5978 | cameron@wavertonassociates.com