Filings show stock and business interests of key Youngkin team members – Richmond.com

Gov. Glenn Youngkin’s general counsel, health secretary and transportation secretary are among key officials with large amounts of stock in a variety of companies, details of which they were required by law to disclose.
The statements of economic interest members of the Youngkin administration filed with the state also list their business interests, real estate holdings and immediate family members.
The State and Local Government Conflict of Interests Act, which requires the public disclosure, says the General Assembly recognizes that Virginia’s system of representative government is in part dependent upon citizens maintaining the highest trust in public officials.
“The citizens are entitled to be assured that the judgment of public officers and employees will be guided by a law that defines and prohibits inappropriate conflicts and requires disclosure of economic interests,” the law says.
The statements filed by Youngkin’s Cabinet and key officials will be available publicly around March 15 in the searchable database of the Virginia Conflict of Interest and Ethics Advisory Council. New forms for members of the General Assembly will also be available around that date. The database also includes disclosures filed by people on various state boards and commissions, and lobbyists.
The Richmond Times-Dispatch obtained the governor’s office disclosure forms, which were filed in January, from the state Division of Legislative Services. Here’s a look at some of the highlights.
The dollar amounts of stock holdings are likely much higher than the numbers show, because the General Assembly allows great leeway on the reporting. For example, an office holder simply has to report owning “more than $250,000” in stock in a particular company.
Richard Cullen, the governor’s general counsel, reported that he or his immediate family owned more than $7 million in stocks, bonds and mutual funds. Those included stocks like Amazon, Apple and Pfizer and more than $250,000 in stock in Dominion Energy, which is represented by Cullen’s previous law firm, McGuireWoods.
Cullen and his family also have vast real estate holdings in Virginia and other states, including dozens of rental properties and pieces of land.
Transportation Secretary Sheppard “Shep” Miller disclosed that he or his immediate family own more than $8.2 million in stocks and investments, including stock in Norfolk Southern Corp. and Old Dominion Freight. Miller reported that he is an advisory board director and vice chairman of TowneBank in Norfolk.
He reported that he or his immediate family own or have an interest in nine Virginia businesses, including Light Tech Inc., which installs and repairs fiber optic cable.
Jeff Goettman, the governor’s chief of staff, reported more than $865,000 in stocks and a mutual fund, including Johnson & Johnson, Exxon Mobil and Chevron Corp.
Gary Pan, commissioner of the Department of Labor and Industry, reported that he and his wife received income from their company, Panacea Consulting Inc. He reported ownership of at least $855,000 in stock and investment funds, including in companies like Facebook, Amazon and Dominion Energy.
Mike Rolband, director of the Department of Environmental Quality, reported more than $2.5 million in mutual funds and other investments, as well as income from Mike Rolband LLC. He disclosed that in the previous year, he was paid to represent the Richmond law firm Aqua Law before the Virginia State Water Control Board, listing the purpose as support for the Mountain Valley Pipeline, a proposed natural gas line that’s tied up in lawsuits.
Rolband also disclosed that in the prior year, he or someone he has close financial ties with was paid for consulting work for Davey Resource Group Inc., a company that does a variety of environmental and utility consulting.
Finance Secretary Steve Cummings reported more than $2.8 million in mutual funds and other investments. He disclosed that he or his immediate family owned or had interests in businesses in Charlotte, N.C., and Turks and Caicos, a Caribbean tourist destination and British Overseas Territory. He and his wife own land and a condo on the islands, he reported.
Education Secretary Aimee Guidera reported that she or her immediate family owned more than $3.3 million in investments and stocks, including in Disney, Fox Corp., and Netflix, where her husband is government affairs director.
John Littel, the secretary of health and human services, disclosed that he or his immediate family owned more than $5.4 million in investments and stocks, including more than $250,000 in stock in Centene Corp., a health care company based in Missouri.
Margaret McDermid, the secretary of administration, reported that she or her immediate family owned more than $2.4 million in mutual funds, stocks and other investments, including more than $250,000 stock in Dominion Energy, from which she retired in 2012 as senior vice president and chief information officer.
Commerce Secretary Caren Merrick disclosed that she and her immediate family own more than $5.2 million in stocks, bonds and funds.
Richard Cullen
pwilson@timesdispatch.com
(804) 649-6061
Twitter: @patrickmwilson
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