Dive Brief:
- Knoxville, Tenn.-based Pilot Company, a travel center giant, announced Monday that it appointed Adam Wright to take over the CEO position while Joe Lillo takes the financial helm, effective May 30.
- The new executives will replace CEO Shameek Konar and CFO Kevin Wills who will be leaving their posts after assisting with the transition, the company said.
- Omaha, Neb.-based Berkshire Hathaway owns 80% of Pilot as of January 2023, while the Haslam family — founders of Pilot — retain 20%.Warren Buffett’s diversified holding company became Pilot’s majority owner, as part of a 2017 deal.
Dive Insight:
Both new executives have logged decades of experience at Berkshire Hathaway. Wright joined Berkshire Hathaway in 1996 and has served in various executive management roles in the energy sector, including most recently serving as executive vice president of operations and chief operating officer for Pacific Gas and Electric Company. Lillo — also a Berkshire Hathaway alum of over 25 years — most recently served as the vice president of finance at Northern Natural Gas for just over 20 years, according to their LinkedIn profiles.
“This next generation of leadership will build upon the company’s long-standing commitment to its team members, the community, and the industry. Pilot Company will remain headquartered in Knoxville, Tennessee and has a compelling growth strategy in place,” the company said in the statement.
Pilot Company, the nation’s largest travel center network, has recently invested $1 billion in its New Horizons store modernization initiative, which includes installing a coast-to-coast network of fast chargers for electric vehicles at many of its locations across the country, the release said.
“From the beginning of our journey together, Berkshire Hathaway recognized Pilot Company as a strong business that was well-positioned for the long term and was backed by an innovative and hardworking team,” said Greg Abel, vice chair, non-insurance operations for Berkshire Hathaway in a statement.
Pilot has more than 800 retail and fueling locations and supplies more than 14 billion gallons of fuel per year to the market. Additionally, the Pilot and Flying J travel center network includes more than 750 locations in 44 states and six Canadian provinces, according to a CSP Daily News report.
