ARC vice president of
marketing, sales and customer care Mike Premo will assume the president and CEO
title at the bank settlement plan, replacing David R.B. Collins, who this
summer announced intentions to retire in June 2011, ARC announced on Monday.
Premo said the ARC
board, which had been undergoing a CEO search since Collins announced
retirement plans, notified him of the appointment on Friday, though there is no
immediate change to his title or duties, apart from a nine-month transition in
which Collins and Premo will work closely. The company made no mention of a
replacement for Premo upon notification of his climb up the ladder in June
2011.
"I look forward
to working closely with Mike over the next nine months to ensure a smooth and
effective leadership transition," Collins said in a statement on Monday.
On the timing of his
departure, Collins told BTN this
summer, "You can't fight the clock. I hit 65 next May. I wanted to give my
board of directors and shareholders one year's notice that I would like to
retire at normal retirement age." Collins added, "Right now, I'm
focused between now and next June on making sure that I can leave the company
in good shape, pass it on to a successor and make sure for all our customers
and employees that it's a very transparent change and a smooth transition."
Premo in June 2006 joined ARC as vice president of sales and
customer relations, managing the organization's relationships with travel
agents, corporate travel departments and airlines. Previously, Premo was the
longtime president of SatoTravel, which Navigant acquired years before it became
part of TQ3, where he served as senior vice president for Latin America, before
moving to the position of global network senior vice president of Navigant
International's new network, following TQ3's split from Business Travel
International. Premo also held leadership positions at Gelco Travel.
"I'm delighted
to accept this challenge and look forward to working with David over the coming
months," Premo said in a statement on Monday. "You can't really
replace an industry icon like David who has over 20 years experience in leading
ARC. Not surprisingly, he has already set ARC in exciting new directions that I
intend to follow. I appreciate the confidence of the ARC board of directors in
giving me this outstanding opportunity."