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Board of Directors


Claude Z. Demby

Director of the Federal Reserve Bank of Richmond since 2012

Claude Demby is the vice president and general manager for Cree, Inc., a multinational manufacturer of semiconductor light-emitting diode materials and devices, headquartered in Durham, North Carolina. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor solutions for wireless and power applications. Prior to joining Cree in 2014, Demby was CEO of Noël Group, a privately owned industrial management company that invests in, leads and strategically manages manufacturing companies that transform engineered synthetic materials. 

Demby has more than 20 years of experience in leadership and manufacturing. He previously was president, chief operating officer and a director for L&L Products, Inc., a privately owned manufacturing company serving the automotive, aerospace and military industries. His early career includes management positions at both Procter and Gamble, Co., and GE. 

He currently serves as interim CEO/director of Valour Academy Schools, and his business and community affiliations include Nomacorc and the Greater Raleigh Chamber of Commerce.

He holds a bachelor’s degree in chemical engineering from the University of Delaware and a MBA from Rensselaer Polytechnic Institute.  

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Jim Strader
(804) 697-8956
(804) 332-0207 (mobile)

Laura Fortunato
(804) 697-8196
(804) 698-0927 (mobile)