The Netherlands plans to launch a pilot program to experiment with the legal sale of cannabis by the end of this year. But it's too early to write off Klarna. The model wont work for every business and may only be viable for companies able to adapt to a new way of working. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 Nexstar Media Inc. All rights reserved. The family-owned Pilot Co. gets its first outside CEO in January when Shameek Konar succeeds Jimmy Haslam in operating the nation's largest network of travel plazas and truck stops. After controlling for variables traditionally thought to explain firm-level financial performance, we find that bad environmental performance is negatively correlated with the intangible asset value of firms. 10 on Forbes list of Americas Largest Private Companies. Headquartered in Knoxville, Tennessee, Pilot Company is the 10th largest privately held company in the United States and employs 28,000 team members. The rest of Pilots leadership team will remain in place. The companies were formed over a twenty year period with the most recent being incorporated one year ago in May of 2021. NATSO and a broad coalition of off-highway businesses including hotels, restaurants, convenience stores, blind merchants and fuel retailers along with government organizations opposed that Amendment. How is that distributed among the partners here? 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Why specifically that company? Konar further . And then, what do you hope to gain out of it, in terms of things that could boost your bottom line? In Payments, Like Geopolitics, India Seeks a Third Way, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Australia Prepares for a Power Grid Without Spinning Turbines, Vietnams VinFast Delivers First EVsto US Customers, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Jim Haslam founded Pilot Corporation in 1958 with one gas station and the family has led the business to become the industry leader it is today. Heres How Soon Self-Flying Planes Will Take Off. Shameek Konar serves as Pilot Company's chief executive officer. Headquartered in Knoxville, Tennessee, Pilot Company is the 7 th largest privately held company in the United States and employs 28,000 team members. Pilots CEO Shameek Konar testified that with the right policy framework and incentive structure, fuel retailers provide the best opportunity for advancing alternative fuels, including electricity, into the marketplace. Cision Distribution 888-776-0942 Konar joined Pilot in 2017 to grow its energy business. Konar joined seven other witnesses from the private sector and public utilities, including FedEX Chair and CEO Fred Smith as well as Laurie Giammona from Pacific Gas and Electric. Konar joined seven other witnesses from the private sector and public utilities, including FedEX Chair and CEO Fred Smith as well as Laurie Giammona from Pacific Gas and Electric. Other family members will be involved as well including former Tennessee Gov. Learn more about . A 10% reduction in emissions of toxic chemicals results in a $34 million increase in market value. Responding to a question from Rep. Bost (R-Ill.) as to how the private sector can help make EVs economically viable, Konar encouraged lawmakers to create a strong incentive for fuel retailers to invest in the infrastructure necessary to bring electric vehicle charging to market, similar to the Renewable Fuel Standard and the biodiesel tax credit. Whether encountering turbulent times or smooth sailing, leaders can look to a number of ways to keep a strong company culture. This is untenable for trucking and the U.S. economy. Meanwhile, the number of U.S. oil refineries has fallen from 301 in 1982, to 124 in 2021 and more are being shuttered as we speak. Tesla Wants $330M in Additional Nevada Tax Breaks. Pilot Company remains family owned and operated with Shameek Konar as CEO since 2021. BRIAN CHEUNG: Shameek, it's Brian Cheung here. Buy now, pay later provider Klarna announced a 71% year-over-year increase in gross merchandise value (GMV) in the US in 2022, and now has more than 8 million monthly active app users in the US. The fluid reduces nitrous oxide emissions in diesel vehicles. EVgo, the fast-charging network company operating and installing these stalls saw its shares jump over 15% on the announcement, though shares have pared some of those gains. With $180 million in sales last year, Whisker aims to get stinking rich from the business of kitties doing their business. This item is part of a JSTOR Collection. Corn, soybeans bounce back after Tuesdays severe slump, Calf prices strengthen, cattle herd shrinking. Founded in 1958 and headquartered in Knoxville, Tennessee, Pilot Company supplies more than 11 billion gallons of fuel per year and has an industry-leading network of more than 950 retail and fueling locations that offer a variety of products, amenities and innovative solutions to make road travel easier. STAMFORD, Conn., July 6, 2015 /PRNewswire/ --Castleton Commodities International LLC ("CCI" or the "Company") today announced the hiring of Shameek Konar as Chief Investment Officer and Global Head of Business Development. See Shameek Konar's compensation, career history, education, & memberships. "OF the 300 million gallons of DEF that Pilot supplies to the industry every year, 74% is moved by rail," Konar said. SHAMEEK KONAR: No, that's a great question. The magnitude of these effects varies across industries, with larger losses accruing to the traditionally polluting industries. You stop to fill gas. The company is moving closer to closing the factory. Shameek possesses, I think, everything we look for or anybody would look for in a leader, Jimmy Haslam said. Talk to me about how this partnership came about. Results of a four-day workweek pilot reported a resounding success but the story isn't that participants enjoyed working shorter hours for the same amount of moneyit's more about what it might take to reach more people. . Testifying on behalf of NATSO before the House Transportation and Infrastructure Committee, Pilot Company Chief Executive Officer Shameek Konar testified that truckstops and travel plazas are best positioned to own and operate EV charging stations and that the right alignment of policy incentives will ensure a faster, more widespread and cost . Since day one with Pilot in 2017, Shameek has shown his dedication to advancing our company and the industry, said Jimmy Haslam, current CEO of Pilot Company. When buying cowboy boots, there are a few aspects to consider, such as how far up they go on your legs and their design. Jim Haslam founded the company in 1958 and his son, Jimmy Haslam, is currently Chairman after 25 years serving as CEO. Subscribe - Today in Manufacturing Podcast, BAE Systems Awarded $145 Million Contract for USS Nitze Modernization, The Promise of Mobile Photoacoustic Imaging, U.S. is Sitting On a Gold Mine of Excess Heat, In Defense of Paper and Everything That Replaced It, U.S. Sues Chemical Company Over Cancer Risk, DOE Grants $375M Loan for Lithium Battery Recycling Plant, Mexican President Says Tesla to Build Plant in Mexico. We report on a study that relates the market value of firms in the S&P 500 to objective measures His knowledge of the energy sector, including expertise in the acquisition, development and operations of infrastructure assets and resources, and his deep appreciation of Pilots culture and values are a few of the reasons why we chose him to be our next CEO. Konar will ease into the new role over the next six months. Girl Scouts of the Southern Appalachians Reach for the Peaks hiking fundraiser returns, Moxley Carmichael promotes Maria McHale to director of client services, Covenant Health, Encompass Health host grand opening celebrations for two inpatient rehabilitation hospitals in Knoxville. Parent has helped the company achieve significant growth through the development of successful systems and processes, as well as building an outstanding leadership team, the company said. Since the late 1960s, we have experimented with generation after generation of electronic publishing tools. So for example, EVgo's got a great lab, where they test out a number of different chargers, and try to improve the product. There's about-- there are four of them, which are kind of the larger ChargePoint providers. Farm Progress Show annually hosts more than 600 exhibitors displaying new farm equipment, tractors, combines and farm implements; seed and crop protection products; and many additional farm supplies and services. The Committee, which invited NATSO to testify, effectively kicked off the first of a series of hearings that will undoubtedly lay the groundwork for Congress to draft infrastructure legislation in the coming months. This is a pretty big project here. from 8 AM - 9 PM ET. AKIKO FUJITA: Shameek, let's talk about the bulk of your current business. For additional photo and video assets, please visit this link. Nation's largest fuel retailer announces new . Informa Markets, a trading division of Informa PLC. Through the correct market incentives and public policy, the federal government enabled us to provide biofuels cheaper to our customers, which has led to a significant adoption of biofuel. Pilot Company expects to sell 1 billion gallons of biofuels next year, Konar said. He is currently chief strategy officer. It reportedly paid $2.76 billion for a 38.6% share of Pilot in 2017. For all alerts and more info please He has a degree in Economics and Mathematics from St. Stephens College in India and a PhD in Economics and Finance from Vanderbilt University. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Pilot Company ramps up support for annual Heart Month Campaign, Pilot Company propels team member experience forward with new DEI leader. Pilot Company announced that CEO Jimmy Haslam will be succeeded in the role by current Chief Strategy Officer Shameek Konar on Jan. 1, 2021, at which point Haslam will become chairman of the board . He has a degree in Economics and Mathematics from St. Stephens College in India and a PhD in Economics and Finance from Vanderbilt University. Konar says a big rig will take on about seven gallons of DEF at every diesel fill-up. Pilot and Flying J supplies about 30% of the U.S. DEF supply and the diesel-powered trucks that run the highways need it, he said. Really appreciate it. Related by Industry: Convenience Stores & Gas Stations. The companies will expand to over 500 industrial automation and system integration professionals. Konar is currently Pilots chief strategy officer. Pilot unions are preparing for battle. Taking the steps to overcome the shortage of skilled cybersecurity personnel is critical for any organization operating in the technology environment. Piloting planes has never been an easy job, and leading a company has not been either. If you would like to receive a digest of blog post and articles directly in your inbox, please provide your name, email and the frequency of the updates you want to receive the email digest. The company says it will create 3,000 jobs at an average rate of $33.49 per hour and invest $3.6 billion into the economy. Chatbots that arent tested and trained continuously are destined for failure, and customers will be the ones to suffer from chatbot incompetence. Shameek Konar has been associated with eight companies, according to public records. When you take those four skills and marry it up with somebody who has great commercial acumen, we think we have an outstanding future CEO.. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Aside from reporting about issues related to farm production, environmental regulations and legislative matters, he has extensive experience covering the dairy industry, western water issues and politics. Jimmy Haslam and his wife, Dee, also own the Cleveland Browns football team, which they bought in 2012 for $1.05 billion. During the hearing, lawmakers and panelists discussed the Biden Administrations goal of adding 50,000 electric vehicle charging stations along U.S. highways and the need for modernizing Americas transportation and infrastructure systems while lowering the nation's carbon footprint. The Committee, which invited NATSO to testify, effectively kicked off the first of a series of hearings that will undoubtedly lay the groundwork for Congress to draft infrastructure legislation in the coming months. That could be why a growing number of agile, flexible startups see the four-day week as the future. I mean, how much does that cost a company to do that, right? Pilot CEO Jimmy Haslam told the newspaper that it's the right time for a change as both he and President Ken Parent, who will switch to an advisor role, are in their 60s and have a lot of miles on us. Haslam and his wife, Dee Haslam, own the NFL's Cleveland Browns. CEO Jimmy Haslam named chairman; Chief Strategy Officer Shameek Konar named CEO. During his tenure at Goldman, Mr. Konar was part of a team that led the expansion of the firm's physical commodity platform into physical natural gas and crude oil, and was responsible for managing the firm's investments in coal mining in Australia and Colombia, and its power and biofuels investments in North America. Shameek has successfully launched and grown our Pilot Energy business and become a key member of our leadership team. . Konar said the same approach will work with respect to EV charging infrastructure. And as you know, range anxiety is probably one of the biggest challenges we have on EV adoption. The transition of Konar to the role of CEO will continue over the next six months. Lawmakers hope to overcome partisan divisions and address a "generational challenge" to America's national security. Konar further testified that U.S. diesel inventories are running 10-15% below their lowest point in the last five years, further exacerbating supply issues and raising the cost of diesel. Diesel-powered tractors also require DEF. As a family operated company for 62 years, Founder James (Jim) Haslam and Jimmy Haslam will remain involved in the business as chairman emeritus and chairman, respectively. Avoid making these seven mistakes to craft a stronger, more resilient retail strategy for your product business. Private companies dont always get the attention they deserve compared to their public peers, but this year was different. When joining the Pilot family, I was immediately drawn to the strong culture that Jimmy and the entire Haslam family created. If you can keep people more engaged and give them more things they can dolike at our travel centers or at retail stops, where you can eat, you can shower, you can do other things, he said. Taking into account various assets, Shameek's net worth is greater than $499,999; and makes between $150 - 174,999 a year. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Representing NATSO was Pilot Company CEO Shameek Konar. By providing your email, you agree to our. The Review of Economics and Statistics AKIKO FUJITA: Well, General Motors and Pilot Company are partnering to make your EV commute smoother with the addition of roughly 2,000 charging stalls at Pilot travel centers across the US. Jimmy Haslams daughter, Whitney Haslam Johnson, will continue to be chief experience officer and a member of the board, and former Tennessee Gov. What Could Elon Musk Possibly Be Thinking? 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