Airlines Reporting Corp. informed employees today that president & CEO Mike Premo will retire from the company on Dec. 31, 2020. ARC's board of directors has unanimously elected current executive VP & chief operating officer Lauri Reishus to step into the CEO role on Jan. 1, 2021.
Premo joined ARC in 2006 as VP business development. He was named president & CEO in 2011. Under his leadership, company revenues grew 44 percent as ARC expanded its data products, partnerships and services. BTN named Premo among 1995's list of the 25 Most Influential people in the industry and again in 2009. The latter of the two awards recognized Premo's work in pushing the electronic miscellaneous document as a solution for agencies as airlines unbundled fares and moved toward ancillary airline purchases. The move foreshadowed the many ways in which Premo has positioned ARC as a facilitator for airlines and agencies as the market has shifted to a retailing strategy.
ARC's more recent involvement in New Distribution Capability, as well as its 2019 leadership role in testing a blockchain-based ticket reporting and settlement system with one of United's largest corporate accounts, have been notable. ARC's investment this year in blockchain startup BlockSkye and off-channel travel data capture solution Traxo have pushed the industry to consider omnichannel models for managing travel.
"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."
Reishus, who will succeed Premo as CEO, began her career with American Airlines as a customer service representative and later joined Gelco Travel. She spent 16 years at SatoTravel/Navigant as VP of account management before joining ARC in 2005 as general manager, industry products and services. Reishus was promoted to VP, operations and then COO. She has held her current position as executive vice president and COO since 2018.
"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," Reishus said. "I look forward to partnering closely with him and the board during this transition as we continue to serve our customers and the industry."