Retirement And Reunion As Port Of Everett Changes CFOs

The retirement of the Port of Everett’s Chief Financial Officer leads to the return of a former employee.

After a 30-year career as a dedicated public servant, Port of Everett Chief Financial Officer John Carter has announced his retirement. The Port has hired Eric Russell, recent senior director in the finance department at Vulcan Inc. and former Port employee, to fill the key leadership post.

Russell stepped in as Chief Financial Officer (CFO) on March 1. Carter has taken on an advisory role to provide support during the management transition, with his official retirement date to be set later this year.

“I want to thank John for his outstanding service to the Port of Everett,” Port Commission President Glen Bachman said. “His talent to creatively think outside of the box to develop financing solutions for the Port, and his evident passion to enhance transparency in the budget process have been influential.”

During his six-year tenure at the Port, Carter has effectively managed the Port’s $102 million operating and capital budget with a strategic, forward-thinking approach. He played a key role in aligning the Port’s Capital Improvement Program and budget with key strategic initiatives, led the charge in developing new financial and investment guidelines, and executed new and unique funding mechanisms that have positioned the Port to successfully implement its robust capital portfolio.

Additionally, under Carter’s management, in January 2019 the Port received a State Auditor’s Stewardship Award representing the State’s highest level of financial achievement in government and completed the Port’s 21st consecutive year of clean financial audits.

“We wish John all the best in his retirement, and we are pleased to welcome Eric Russell back to the Port team to fill this role,” Bachman said. “Eric’s extensive finance and real estate background in both the public and private sectors, paired with his prior experience in Port operations, provide a critical skillset as we continue to push forward with our top strategic initiatives to modernize our Seaport facilities and create a new mixed-use waterfront community at Waterfront Place.”

Russell rejoins the Port after ten years in finance at Vulcan Inc. where he worked on a variety of issues, including new business ventures, real estate development and financial planning.

Prior to Vulcan, Russell spent 11 years at the Port; first as the Port’s senior accountant and information services manager, and later as the director of properties and development. Russell played an influential role at the Port with a focus on setting the framework to create the Waterfront Place development we are working on today, securing the deal that will convert the former Biringer Farm, now known as Blue Heron Slough, into a wetland conservation bank to support salmon recovery, as well as helping prepare the Riverside Business Park for development.