176 Concord Street, P.O. Box 22287, Charleston, SC 29413-2287
Contact: Erin Dhand, Manager, Corporate Communications and Community Affairs
Telephone: 843-577-8121 • Fax: 843-577-8127 • e-mail: EDhand@scspa.com
FOR IMMEDIATE RELEASE
CHARLESTON, SC – April 4, 2017 – Today South Carolina Ports Authority announced the retirement of Senior Vice President of Finance and Administration (SVP)/Chief Financial Officer (CFO), Peter Hughes, effective at the end of the 2017 fiscal year. Stan Van Ostran, former Vice President and CFO of Metropolitan Nashville Airport Authority (MNAA), has been selected as Hughes’ replacement and will assume the position on July 1.
“Peter’s contributions to SCPA during his long career here, and particularly on our senior management team, are too numerous to name,” said Jim Newsome, SCPA president and CEO. “His considerable knowledge, competence, integrity and logical thinking have been a great asset. He has been an indispensable resource for me personally in my seven years at the Port, and I speak for many when I say that I admire his substantial accomplishments as the head of our finance and administration departments.”
Hughes is a 34-year veteran of SCPA. Promoted to CFO in 1996 and Senior Vice President in 2010, Hughes is responsible for all financial, procurement, risk management, real estate and administrative functions of the Port. He will continue to work for SCPA in a project-based consulting capacity, focusing on SCPA’s new main office construction, the sale of non-port-operated real estate, completion of the FY2017 financials and general support for the new CFO.
“Hughes notified me last October of his plans to retire, enabling the Port to prepare for this transition appropriately and find the best fit for the position,” Newsome said.
SCPA selected Stan Van Ostran, an attorney and CPA with 35 years of progressive finance experience, to join the Port on May 1. In his previous position as VP and CFO for MNAA, Van Ostran managed all fiscal activities of a $120 million budget and directed more than $1.5 billion of bond issues. He also has substantial experience with the oversight of procurement programs with large annual spends and risk management, and served as the comptroller for the Oklahoma Lottery Commission for three years prior to MNAA. Preceding to the Lottery Commission, he oversaw the finance and information technology functions of the Oklahoma Department of Central Services. Van Ostran will officially assume the SVP/CFO role on July 1, the beginning of the 2018 fiscal year.
“I’m excited to welcome Stan Van Ostran to our senior management team,” Newsome said. “He is an experienced CFO, and his expertise in the financial management role makes him a valuable addition to the Port. The financial health of our organization is critical to meeting the demands of our capital plan and ensuring the Port remains competitive for years to come.”
About South Carolina Ports Authority
South Carolina Ports Authority (SCPA), established by the state’s General Assembly in 1942, owns and operates public seaport facilities in Charleston, Georgetown and Greer. In 2015 SCPA handled international commerce valued at more than $74 billion while receiving no direct taxpayer subsidy. An economic development engine for the state, Port operations facilitate 187,200 statewide jobs and generate nearly $53 billion annual economic activity. Home to the Southeast’s deepest port, SCPA is the industry leader in delivering speed-to-market, seamless processes and flexibility to ensure reliable operations, big ship handling, efficient market reach and environmental responsibility. For more information on SCPA, including career opportunities at all SCPA facilities, please visit www.scspa.com.