TravelCenters of America Appoints New Chief
WESTLAKE, Ohio — TravelCenters of America Inc. (TA) appointed Jonathan M. Pertchik has as CEO and managing director, effective immediately.
Pertchik succeeds Andrew J. Rebholz, who is retiring. Rebholz will continue to advise the company through June 30.
"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, chair of the TA board of directors, and president and CEO of The RMR Group.
"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," he added.
Pertchik previously served as an executive for companies owned or controlled by private equity groups, including Starwood Capital Group, TPG, Carl Icahn, Richard LeFrak and Perry Capital.
In his most recent role, he served as CEO of Intown Suites, the largest wholly owned, extended stay hotel chain in the United States, where he doubled EBITDA through disciplined cost control and transformative growth initiatives.
Prior to this, Pertchik was CEO of ST Residential, a joint venture with the FDIC, which managed the work-out of a $5-billion portfolio of loans and real estate from Corus Bank.
"I am looking forward to applying established transformative practices from my prior turnaround experience to increase cash flows and margins and create a more efficient organization," he said. "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."
Rebholz, who worked at TA for more than 20 years, took the reins at the company two years ago after former President and CEO Thomas O'Brien resigned effective Dec. 31, 2017, as Convenience Store News previously reported.
Prior to taking on the CEO role, he served as executive vice president, chief financial officer and treasurer.
"On behalf of the TA board, we thank Andy for his over 22 years of dedication to TA. Over a long and distinguished career at TA, Andy has made significant contributions to the company's success, and we wish him the very best as he prepares for his retirement," Portnoy said.
Korn Ferry, a leading global executive search firm, assisted TA in the recruitment process.
Westlake-based TravelCenters of America's nationwide business includes travel centers located in 43 U.S. states and in Canada, and standalone restaurants in 13 states. TA's travel centers operate under the TravelCenters of America, TA, TA Express, Petro Stopping Centers and Petro brand names. Its standalone restaurants operate principally under the Quaker Steak & Lube brand name.