Editor’s Note: Updates with photo of Pertchik and SONAR stock chart
Travel Centers of America (NASDAQ: TA) appointed Jonathan Pertchik, a veteran of several business transformations, as CEO and managing director on Dec. 16. He immediately replaces Andrew Rebholz, who has spent 22 years with the company.
“Jon is a seasoned executive who has led multiple businesses in different industries through various stages of transformation and growth over the past 20 years,” said Adam Portnoy, chairman of the TA board.
“The TA board is confident that his proven track record and engaged management style will advance TA and lead to improved cash flows and enhanced performance,” Portnoy said.
Pertchik has overseen private equity companies owned by Starwood Capital Group, TPG, Carl Icahn, Richard LeFrak and Perry Capital.
Most recently, Pertchik was CEO of Intown Suites, the largest wholly owned extended-stay hotel chain in the United States. On his watch, earnings before interest, taxes, depreciation and amortization (EBITDA) doubled through disciplined cost control and growth initiatives.
“TA is an impressive company with a long history of successfully serving both professional drivers and highway motorists, and I am excited to build upon this great company’s unique position in the marketplace,” Pertchik said in a statement.
Rebholz will continue to advise the company through June 30, 2020.
TA operates travel centers located in 43 U.S. states and in Canada under the brands TravelCenters of America, TA, TA Express, Petro Stopping Centers and Petro. TA’s travel centers sell diesel and gasoline and offer restaurants, truck repair services, travel/convenience stores and other services for professional drivers and travelers.
J brick
El paso petro food was delicious
George
How hard is it to make money when 59 percent of your parking cost 15 dollars a night? If you have thousands of parking spots which you do I imagine your making 50 thousand a night minimum. Not bad money for little work. I understand it costs money to maintain a business and a lot of guys don’t buy fuel but take parking spots but as a leather jacket owner for buying a million dollars worth of fuel I have seen coffee go from free to 2 plus and parking non existent. It’s sucks to buy fuel but have no place to park to take a shower. That’s why people disappear for 30 minutes while their truck sits in a fuel Island.
TA
Unfortunately, somebody who ran a hotel chain ( and not a good one at that ), has no business running a company like TA. People don’t know what they don’t know.
Geovanny Rodriguez
I hope he can make TA Petro great again 😉 you are the biggest baddest giant in the valley but more and more companies and drivers are going to pilot flying js and loves because it is so difficult and costly doing business with TA Petro even little things like showers for your customers/drivers 50gal 10 days everyone else TA Petro 60gal 7 days I’ve had a shower expire a day before pilot flying js and loves added a complimentary shower TA and Petro in not so many words told me to go f@#k myself ! Like I said you’ve always been the biggest and baddest ! Make it Great Again
Noble1
The “market” seems to like and agree with the change in management . The stock price increased 24.5% since the announcement(in one day )
In my humble opinion ………………..