durham inc.
BIZBRIEFS Compiled by Kelli Rainer
ON THE MOVE
The Council for Entrepreneurial Development appointed Kelly Rowell as its president and CEO in May. Rowell joined CED in 2017 to focus on customer experience and the value that CED can provide to the entrepreneurial landscape. Rowell also advised CED through the challenges caused by the pandemic and was able to execute the company’s Venture Connect Summit in March. “Kelly has the vision, leadership and energy to support the changing and growing needs of our ecosystem and CED’s future,” CED Board Chair Sanjay Pal said. Worldwide Clinical Trials Inc., a contract research organization, hired Steve Chriscoe as its executive director for oncology project management in April. The experienced project leader has worked in clinical research and development for the pharmaceutical and biotech industries for more than 25 years. “It’s a very exciting time to join Worldwide, as small and midsized pharma and biotechs are seeking the right CRO partner for their complex oncology studies,” Chriscoe said.
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Durham native and UNC alumnus Michael Bradshaw was named the chief information officer for Kyndryl in May. Kyndryl is an IBM offshoot that will be created following the separation of IBM’s Managed Infrastructure Services business, which is expected to occur by the end of 2021. Bradshaw most recently served as executive vice president and CIO of NBC Universal. NC IDEA, a private foundation aimed at strengthening the state economy through grants and programs, announced the election of its new board chair and directors in June. Peyton Anderson, who has served on the board for four years and works as the CEO of Affinergy, was elected to serve as the chair. The three new directors include Spencer Disher, Sonja Ebron and Jerry Edmonds. Disher recently served as the senior vice president at French bank Natixis SA, and Ebron is the founder and CEO of Courtroom5, an organization that works to provide a toolbox for people in court without legal representation. Edmonds is the vice president of workforce and community engagement at Vance-Granville Community College.
august 2021
PARTNERSHIPS, ACQUISITIONS & MERGERS
The remaining portion of the former Witherspoon Rose Culture site, a 4.3-acre lot at 3330 Watkins Rd., was sold to an apartment developer for $6,812,500 in May. Chris Howlett and Louis Gonzalez of Beacon Properties Group bought the property, represented by commercial broker Vernon Averett of Pickett Sprouse Commercial Real Estate. Howlett and Gonzalez plan to build around 300 apartments on the land located inside the Patterson Place Shopping Center. “The property is key to the continued growth of the entire shopping center, the surrounding area and southwest Durham,” Averett said. Shutterfly, a California-based digital retailer and personalized products manufacturing platform, announced an agreement to acquire Spoonflower, a Durham-based global design marketplace of custom fabric, wallpaper and home decor, for $225 million in June. Shutterfly will add Spoonflower wallpaper, fabric, linens, bedding and other home decor soft goods to its product assortment and connect Shutterfly’s 21 million active users to Spoonflower’s artists and design community. The acquisition is expected to close in the third quarter. “Shutterfly is truly our perfect match,” Spoonflower CEO Michael Jones said in a press release.
“Not only will Spoonflower now enable Shutterfly consumers to buy artists’ customized design creations in addition to personalizing their own, but we will also unlock the ability to reach new audiences and scale the small businesses of our incredible creative community thanks to Shutterfly’s manufacturing expertise and expansive customer reach.” Spoonflower will retain its distinct brand, culture and team structure. Jones will continue to lead Spoonflower, reporting to Hilary Schneider, CEO of Shutterfly.
NEW ON THE SCENE
Tergus Pharma – an end-toend service provider for topical pharmaceutical products – celebrated the opening of its new Research Triangle Park headquarters with a ribboncutting ceremony on May 13. Tergus Pharma Chairman and CEO Dr. Vijendra Nalamothu, his wife, Dr. Devi Nalamothu, Tergus board members Devi Nalamothu and Eddie Hjerpe, and Gov. Roy Cooper cut the ribbon for the 100,000-square-foot commercial