TravelCenters of America Inc. (Nasdaq: TA) today announced that Peter J. Crage has been appointed as Executive Vice President, Chief Financial Officer and Treasurer effective immediately. Mr. Crage succeeds William E. Myers, who has resigned from the company.
Jonathan M. Pertchik, Managing Director and Chief Executive Officer of TA, made the following statement:
"Peter joins TA with experience directing large and complex financial organizations in the hospitality, entertainment and food service industries. He has a strong record leading transformational change, achieving operational excellence and driving profitability in dynamic environments. In addition, Peter brings a "can-do", high-energy attitude, which is central to the direction we are taking the company's culture to drive change, growth, cost control and financial performance. We welcome Peter and look forward to his leadership in improving operational and financial performance for the benefit of the company and TA shareholders."
Mr. Crage brings more than 30 years of financial leadership experience working at public and private companies. Most recently, he served as Chief Financial Officer of Diamond Resorts, a $1 billion private equity-owned organization with 350 plus vacation destinations in 35 countries around the world. He also previously served as Chief Financial Officer of Seaworld Entertainment Inc. (SEAS) - Get Report, a $1 billion theme park operator with 22,000 employees located across the U.S., and as Executive Vice President and Chief Financial Officer of Cedar Fair Entertainment Company (FUN) - Get Report, an owner and operator of amusement parks, water parks and hotels located in the U.S. and Canada.
About TravelCenters of America Inc.:
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 21,000 employees serve customers in over 260 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates nearly 650 full-service and quick-service restaurants and 10 proprietary brands, including Quaker Steak and Lube®, Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
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- The appointment of Mr. Crage as Executive Vice President, Chief Financial Officer and Treasurer of TA and the enumeration of his qualifications may imply that TA's business and operations will improve as a result of his appointment. However, TA's business and operations are subject to various risks, many of which are beyond its control. As a result, TA's business and operations may not improve despite the appointment of Mr. Crage.
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