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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.
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