Mike Premo to Retire as ARC CEO End of 2020; Lauri Reishus Named Successor
ARLINGTON, Va.--(BUSINESS WIRE)--Nov 21, 2019--
Airlines Reporting Corp. (ARC) today announced its President and CEO Mike Premo will retire from the company on December 31, 2020. At its regularly scheduled meeting on Nov. 7, ARC’s board of directors unanimously elected current Executive Vice President and Chief Operating Officer Lauri Reishus to succeed Premo as president and CEO on January 1, 2021.
Premo joined ARC in 2006 as its vice president of business development and was named president and CEO in June 2011. Under his leadership, company revenues grew 44% as ARC expanded its data products, partnerships and services.
“It’s been an incredible privilege and honor to serve this extraordinary company for more than a decade,” said Premo. “During this time, ARC has truly transformed from a service organization to a leader in enabling air travel retailing. I’m proud of how my ARC colleagues continue to meet the challenges facing our customers head-on, helping them thrive in a shifting landscape. I am excited about all the possibilities that lie ahead for ARC.
“I also know that Lauri is the right leader for ARC’s future. We have worked together for more than 30 years, and as an integral part of ARC’s executive team, Lauri has helped to skillfully renew its culture to one that is customer-oriented, while laying the groundwork for ARC’s ongoing transformation and growth. I have tremendous confidence in her ability to successfully lead the company for the next decade and beyond, and I look forward to working with Lauri through this transition.”
An industry veteran, Reishus began her career with American Airlines as a customer service representative and later joined Gelco Travel. She spent 16 years at SatoTravel/Navigant as vice president of account management before joining ARC in 2005 as general manager, industry products and services. Reishus was quickly promoted to VP, operations and then COO. She has held her current position as executive vice president and COO since 2018.
“I am grateful for the opportunity to lead our diverse and growing company as the next president and chief executive officer,” added Reishus. “Working with Mike to reshape ARC’s vision, products, culture and technology to align with the needs of our customers has been one of the highlights of my career. I look forward to partnering closely with him and the board during this transition as we continue to serve our customers and the industry.”
An industry leader in air travel distribution and intelligence, ARC provides channel-agnostic tools and insights to help the global travel community connect grow and thrive. ARC enables the diverse retailing strategies of its customers by providing flexible settlement solutions, innovative technology and access to the world’s most comprehensive air transaction dataset. In 2018, ARC settled $94.8 billion in transactions between airlines and travel agencies, representing more than 295 million passenger trips. For more information, please visit arccorp.com.
©2019 Airlines Reporting Corporation (ARC). All rights reserved.
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CONTACT: Peter Abzug
KEYWORD: DISTRICT OF COLUMBIA VIRGINIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TRANSPORTATION DATA MANAGEMENT OTHER RETAIL TECHNOLOGY TRAVEL RAIL AIR TRANSPORT SECURITY RETAIL SOFTWARE
SOURCE: Airlines Reporting Corp.
Copyright Business Wire 2019.
PUB: 11/21/2019 01:00 PM/DISC: 11/21/2019 01:01 PM