Joe Boschulte, a U.S. Virgin Islands businessperson and tourism specialist, has been nominated as Commissioner for the Department of Tourism. Boschulte brings to the tourism department vast experience in business and in government as well as a track record of improving organizational performance and growth. He formerly served as President and CEO of The West Indian Company Limited (WICO), where he led the completion of major capital projects.
Boschulte, who earned an MBA from Darden School of Business at the University of Virginia, has held high-level positions in transportation, utilities, telecommunications, finance, government development and investment banking. A strategic team leader, Commissioner Designee Boschulte helped to reverse WICO's annual losses. He also mobilized a public bond offering of almost $79 million to raise funds for capital projects for the Virgin Islands Water and Power Authority, and developed a retirement system cash management program with $1.5 billion in assets under management by the Government Employees' Retirement System. A former Vice President of Institutional Advancement at the University of the Virgin Islands, Commissioner Designee Boschulte served as Senior Vice President, Corporate Finance with Wachovia Securities in Atlanta, and Vice President of Banc of America Securities in Charlotte and New York City. The Commissioner Designee will appear before the Virgin Islands Legislature in the coming weeks for confirmation hearings.