Underwood joins CV International and Capes Shipping Agencies as CFO

CV International, Inc. (CVI), a Norfolk-based freight forwarder and customs broker, and its subsidiary Capes Shipping Agencies, a port and vessel agency, have announced the appointment of Jeff Underwood as Chief Financial Officer. A seasoned finance executive with deep roots in the maritime industry, Jeff joins the leadership team at a pivotal moment of growth and strategic development for the two companies.

Jeff brings over 30 years of financial experience, having started his career in public accounting with Price Waterhouse, LLP (now PwC, LLP). He moved into the maritime sector in 2002, joining Maersk—where he first became acquainted with CVI/Capes—and went on to spend over a decade in senior financial roles at The Port of Virginia. His expertise spans marine terminal operations, U.S. flag vessel management, and federal contracting. Over the years, Jeff has led key initiatives in financial reporting, budgeting, compliance, M&A integration, strategic planning, and the implementation of financial systems.

“What drew me to CVI and Capes was the entrepreneurial culture—grounded in expertise, focused on creating value, and driven by a clear appetite for growth,” explained Jeff. “I’ve spent much of my career helping organizations expand operations, and I look forward to bringing that experience to this role. My goal is to help guide the company’s financial strategy as it continues to scale and build the infrastructure to support long-term, sustainable growth. In today’s turbulent market, there are opportunities for organizations with the expertise and agility to help customers navigate complexity and deliver meaningful solutions.”

Jeff succeeds Michael King, who retired at the end of June after serving as CFO of CVI and Capes for more than 17 years. During his tenure, King was instrumental in maintaining financial stability and guiding both companies through periods of significant growth and market disruption—notably in the years following the COVID-19 pandemic. He will continue to support the organization as a member of the Board of Directors. “CVI and Capes will benefit from Jeff’s knowledge and experience, and we are thrilled for him to become an integral part of our team,” said King.

“We are grateful for Michael’s service to the company and are excited to welcome Jeff to the team,” added Mike Coleman, CEO and President of CVI and Capes. “Jeff, and the expertise he brings, will be instrumental to our continued growth.”