Cheryl Womack
Encyclopedia
Verna Cheryl Womack is an entrepreneur who founded Kansas City, Missouri
-based VCW and National Association of Independent Truckers, Inc. which became a $100 million a year business selling insurance to independent truckers before selling the companies to private equity investors Clayton, Dubilier & Rice who placed them in SIRVA in 2002.
She has since became a major philanthropist in the Kansas City area. Among her donations was $2 million to the University of Kansas
to build Arrocha Ballpark which is named for her father Demostenes Arrocha.
. She was the third of 11 children to her Panama
-immigrant father and American mother. She attended Wyandotte High School
and received a bachelor in education from the University of Kansas
in 1975. Following graduation she taught elementary school for a year and worked at a trucking insurance company.
After failing to be promoted, she started NAIT in the basement of her home in 1981. She started the NAIT to fill a niche need for the independent contractors. Truckers who paid a membership got discounts on various products. In 1983 and more lucratively she created VCW to sell customized insurance policies to truckers. "I listened to what the independent truckers complained about, and I solved their problems," she said. "I created something and said, 'Here's what you asked for.'
Since the sale, her new VCW Holding investments include The Star Group team in program and partnership development for annual events recognizing and honoring the, Leading Women Entrepreneurs of the World and participates in mentoring programs sponsored by The Kauffman Foundation for Entrepreneurial Leadership, The Committee of 200, Harvard University
's John F. Kennedy School of Government
, and the Women's Leadership Board.
Kansas City, Missouri
Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties...
-based VCW and National Association of Independent Truckers, Inc. which became a $100 million a year business selling insurance to independent truckers before selling the companies to private equity investors Clayton, Dubilier & Rice who placed them in SIRVA in 2002.
She has since became a major philanthropist in the Kansas City area. Among her donations was $2 million to the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
to build Arrocha Ballpark which is named for her father Demostenes Arrocha.
Early life
Womack was born in Kansas City, KansasKansas City, Kansas
Kansas City is the third-largest city in the state of Kansas and is the county seat of Wyandotte County. It is a suburb of Kansas City, Missouri, and is the third largest city in the Kansas City Metropolitan Area. The city is part of a consolidated city-county government known as the "Unified...
. She was the third of 11 children to her Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
-immigrant father and American mother. She attended Wyandotte High School
Wyandotte High School
Wyandotte High School is a fully accredited, public high school located in Kansas City, Kansas, United States, serving students in grades 9-12. The building itself is a historic and notable public building, which was listed on the National Register of Historic Places in 1986. The school principal...
and received a bachelor in education from the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
in 1975. Following graduation she taught elementary school for a year and worked at a trucking insurance company.
After failing to be promoted, she started NAIT in the basement of her home in 1981. She started the NAIT to fill a niche need for the independent contractors. Truckers who paid a membership got discounts on various products. In 1983 and more lucratively she created VCW to sell customized insurance policies to truckers. "I listened to what the independent truckers complained about, and I solved their problems," she said. "I created something and said, 'Here's what you asked for.'
Sale of SIRVA
By the time she sold the companies, there were 12,000 members. She was 100 percent owner. The sale to SIRVA was reported to have been for $100 million. (although SEC filings indicate the price was closer to $40 million). SIRVA would sell the insurance business along with Transguard Insurance Company of America, Inc. and Vanguard Insurance Agency, Inc. to IAT Reinsurance Company Ltd. in 2005.Since the sale, her new VCW Holding investments include The Star Group team in program and partnership development for annual events recognizing and honoring the, Leading Women Entrepreneurs of the World and participates in mentoring programs sponsored by The Kauffman Foundation for Entrepreneurial Leadership, The Committee of 200, Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
's John F. Kennedy School of Government
John F. Kennedy School of Government
The John F. Kennedy School of Government at Harvard University is a public policy and public administration school, and one of Harvard's graduate and professional schools...
, and the Women's Leadership Board.
Business Interests
- President & CEO, The Star Group
- Chair, The Leading Women Entrepreneurs of the World, Inc. – 501 (c) 3
- President & CEO, VCW Holding Company, L.L.C.
- President & CEO, VCW Accounting Services, L.L.C.
- CEO, R&A Properties, L.L.C.
- Member, W & P Development, L.L.C.
- CEO, Just Jets, Inc.