- The Washington Times - Tuesday, November 18, 2003

THE WASHINGTON TIMES

Long & Foster Real Estate Inc. announced several management changes yesterday as part of the Fairfax real estate brokerage’s continued expansion in the Mid-Atlantic region.

Wes Foster, who founded the company and has served as president and chief executive officer for the past 35 years, said he will remain as chairman and CEO while relinquishing the role of president to Brenda Shipplett.

Ms. Shipplett, who joined the company in 1986, also will serve as chief operating officer. She most recently was the executive vice president and general manager for Long & Foster’s Virginia/West Virginia region.

“The company has just gotten so big that I need help running it,” Mr. Foster said. Long & Foster has 200 offices in seven states with 12,000 independent agents and 1,600 support staff.

The privately owned company, which operates several insurance, real estate and brokerage agencies, will reach $800 million this year in overall income, Mr. Foster said.

Mr. Foster also appointed George Eastment as president of Long & Foster Financial Services, which operates four subsidiaries, and Jack Queen as president for Long & Foster’s Maryland, District of Columbia, Pennsylvania, Delaware and New Jersey division, which includes 122 offices.

“We’re a dominant brokerage firm in Washington and Baltimore, and now we want to dominate in other key areas”such as Norfolk, Charlottesville, Roan-oke, and Princeton, N.J., Mr. Foster said.

—Marguerite Higgins


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