June 11, 2021
Andy Florance, founder and CEO of CoStar Group, will join the Virginia Commonwealth University Board of Visitors, beginning July 1.
Virginia Gov. Ralph Northam announced Florance’s appointment today. In addition to Florance, the governor reappointed Tyrone Nelson, pastor, Sixth Mount Zion Baptist Church; Ed McCoy, president and CEO, Eaheart Industrial Service Inc.; and Todd Haymore, managing director, global economic development, commerce and government relations, Hunton Andrews Kurth, to their second four-year terms on the board.
Florance founded CoStar Group as an undergraduate student at Princeton. Today, the company is the largest provider of commercial real estate research, analytics and data, employing more than 4,700 staff worldwide. Florance delivered the spring commencement address at VCU in 2019 and received an honorary doctorate from the university. VCU President Michael Rao, Ph.D., called Florance “one of our most remembered commencement speakers” and said his entrepreneurial background will benefit the university on the board.
“Andy is a strong supporter of VCU and the broader Richmond community,” Rao said. “CoStar has recruited hundreds of VCU students and alumni since its Richmond research and technology office opened in 2016. A $2.5 million gift from CoStar to the VCU School of Business established the CoStar Group Endowed Chair in Real Estate Analytics.”
The board term of Rick Wagoner, former chairman and CEO of General Motors, expires this month. He served the limit of two terms.
“I thank Rick Wagoner for his outstanding service on the board,” Rao said. “All of VCU has benefited from his deep experiences and leadership, and I especially have appreciated working with him as a trusted partner. He remains one of our most generous donors to one of our highest priorities: student scholarships.”
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