NORFOLK, Va. — Brad Hobbs, CEO of Norfolk-based AIR Control Concepts, has been named chair of the board of directors for Hokie Ventures, a newly formed nonprofit created by Virginia Tech to drive new revenue and strategic investment for the university's athletics programs.

Virginia Tech named Hobbs, a 1990 finance graduate of the university, and fellow alumnus Ted Hanson as the organization's founding chair and vice chair back in June. This week, the university announced the rest of the board that will serve alongside them.

Hokie Ventures was established to strengthen Virginia Tech Athletics' competitive position through modernized revenue generation, strategic investment and stronger donor relationships. Operating independently while remaining university-affiliated, the nonprofit is designed to let the athletics department focus on its core mission while Hokie Ventures pursues corporate partnerships, sponsorships, emerging revenue opportunities and commercial investment strategies.

“Virginia Tech has an incredible opportunity in front of us, and I'm honored to serve as chair of a board that shares a deep commitment to the future of Hokie Athletics,” Hobbs said. “Our charge is to think boldly, move with urgency and create sustainable new resources that help Virginia Tech compete at the highest level. We have tremendous expertise around this table and an opportunity to turn that experience and passion into meaningful results for our student-athletes, coaches and Hokie Nation.”

“The establishment of Hokie Ventures puts Virginia Tech on the leading edge, creating a modern college athletics enterprise built for the future,” Hanson said when the leadership team was announced in June.

Virginia Tech Director of Athletics Brian White echoed that this week, saying Hokie Ventures “gives us another powerful tool” to help the university compete at the highest levels of college athletics.

Hobbs will lead a 10-member board that includes Hanson, CEO of Everforth, as vice chair; David Calhoun, former CEO of Boeing; Brian Callaghan, owner of the Richmond Flying Squirrels; Lynne Doughtie, retired chairman and CEO of KPMG US; John Lawson, executive chairman of W. M. Jordan Company; and Horacio Valeiras, CEO and partner of Frontier Global Partners — along with Virginia Tech President Tim Sands, White, and Senior Vice President for Advancement Tom Wamsley.

Hobbs founded AIR Control Concepts, formerly Hobbs & Associates, growing the commercial HVAC business his family started in 1984 into one of the nation's largest engineered product distribution companies. He previously served on Virginia Tech's Board of Visitors after Governor Glenn Youngkin appointed him in 2022, and remains active with the Virginia Tech Athletic Foundation board, among other civic and philanthropic commitments across Hampton Roads.

The appointment adds to a busy year of board news for the Norfolk executive, who welcomed former Governor Glenn Youngkin to AIR Control Concepts' own board of directors in July.

Quotes and background reporting in this story are drawn from Virginia Tech Athletics (hokiesports.com) and the Virginia Tech Board of Visitors.

Sources: Virginia Tech Announces Hokie Ventures Board of Directors (hokiesports.com, Aug. 26, 2026); Two to Lead in Formation of Hokie Ventures Board of Directors (hokiesports.com, June 17, 2026); Brad Hobbs bio, Virginia Tech Board of Visitors (bov.vt.edu).