A.B. “Chip” Mayo has been appointed managing partner for Cornerstone Business Advisors, according to a news release from founder and owner Dallas Romanowski.

Mayo first joined the firm in 2014, serving as an executive coach and business exit planning advisor. Mayo leads Cornerstone’s business development and recent expansion of the firm’s business-owner exit planning services. Previously an executive with several Research Triangle technology businesses, he developed “extensive experience” in mergers and acquisitions, technology management and global marketing, according to the release.

After earning his bachelor's degree in business from East Carolina University, Mayo received an MBA from Campbell University and continued his education with Executive Leadership Studies at Pepperdine University. He lives in Wilmington and is an active volunteer with the Renaissance Wilmington Foundation and serves on the Cape Fear area’s United Way Council, the release stated.

Romanowski announced also that Bruce Mancinelli and Steve Smith have joined Cornerstone as business advisers, providing executive coaching and fractional executive services. 

Mancinelli formerly led seven Northern Virginia high-tech companies as founder, president and CEO, the release stated. He also served as a mentor, business director and coach to help senior executives lead their companies through various stages of business development.

Stephen M. “Steve” Smith (at left) comes to Cornerstone Business Advisors with more than 30 years of executive roles in the community-based healthcare services sector, according to the release.

“He launched, grew and successfully exited his own mid-sized business. During his career, he facilitated multiple business sales and acquisitions. He has extensive experience in franchised businesses, including as chairman of a national franchise group, as well as president of a statewide trade association,” the release stated. 

Smith holds a master's degree in health administration degree from University of North Carolina at Chapel Hill's Gillings  School of Global Public Health.

Wilmington-based Cornerstone Business Advisors is headquartered at Lumina Station.