/PRNewswire/ -- Castleton Commodities International LLC ("CCI" or the "Company") today announced the hiring of Shameek Konar as Chief Investment Officer and. He has tapped Chief Strategy Officer Shameek Konar, 50, to be Pilot's fourth CEO. This next phase of leadership ensures the company will remain committed to the industry and to expanding the business while upholding the values instilled by the Haslam family. 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 Four-Day Workweek Pilot Worked. The company has grown to become the nation's largest operator of travel centers with more than 950 locations and is the largest seller of over-the-road diesel fuel. That could be why a growing number of agile, flexible startups see the four-day week as the future. The biggest impediment to the adoption of electric vehicles remains the lack of a nationwide network of fueling stations, Konar said. from 8 AM - 9 PM ET. Pilot receives about 45% of the raw materials used to make DEF by UP rail. Pilot Company is one of the leading suppliers of fuel and the largest operator of travel centers in North America. The House Transportation and Infrastructure Committee on March 17 held a four-hour hearing on business solutions to climate change. Shameek Konar serves as Pilot Company's chief executive officer. Moxley Carmichael. Fitchette is US Army veteran and a graduate of California State University, Chico. Konar further . When typing in this field, a list of search results will appear and be automatically updated as you type. Pilot Flying J is part of the Convenience Stores, Gas Stations & Liquor Stores industry, and located in Tennessee, United States. The cutbacks to DEF production would be catastrophic. And that means higher airfares are coming. 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 Konar, the CEO of Pilot Flying J truck stops and gas stations, revealed during an April 13 hearing that his company was informed by Union Pacific Railways (UP) that the chain is "required to reduce shipments by 26 percent." Not long after, Pilot Flying J was reportedly told to reduce shipments by another 50 percent, or else. 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. 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. Mr. Konar will be based in CCI's Houston office where he will be responsible for managing the Company's investments in commodities-related assets and structured transactions, integrating these assets with CCI's trading platform, and expanding CCI's asset footprint globally. Headquartered in Knoxville, Tennessee, Pilot Company is the 7 th largest privately held company in the United States and employs 28,000 team members. Headquartered in Knoxville, Tennessee, Pilot Company is the 10th largest privately held company in the United States and employs 28,000 team members. What Could Elon Musk Possibly Be Thinking? About Castleton Commodities International LLCCCI is a global commodities merchant with an integrated set of operations consisting of physical and financial commodities trading and the ownership, operation, and development of commodities-related upstream and infrastructure assets. 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. 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.. Find out the challenges and triumphs of leading an energy, data and hospitality-obsessed company that is striving to put the driver first. So our hope is not to change customer behavior. Shameek Konar Chief Executive Officer Shameek Konar serves as Pilot Company's chief executive officer. 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. Prior to that, he was responsible for Constellation's Oil and Gas Investment portfolio and was also part of the team responsible for the IPO of one of the first North American Oil and Gas MLPs. You'll have a number of other amenities, from showers to clean restrooms to merchandise. Konar, 50, has been at Pilot since 2017 and said he plans to continue with a growth mindset. Such approaches, he testified, undermine the business case for all fuel retailers nationwide to invest in EV charging infrastructure. 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. A 10% reduction in emissions of toxic chemicals results in a $34 million increase in market value. But we would require, or we would benefit from government funding, because like I said, the economics will be difficult in the beginning. . Pilot Company is one of the leading suppliers of fuel and the largest operator of travel centers in North America. Shameek Konar, Pilot Corp: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance: Early Edition Bloomberg Surveillance: Early Edition with Anna. If you are stuck for 40 minutes in some place and it does not have a lot of amenities, it will be challenging.. 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. Since day one with Pilot in 2017, Shameek has shown his dedication to advancing our company and the industry, Jimmy Haslam said in a company news release. And you know, we finally got it done. CEO Jimmy Haslam will transition to the fuel company's chairman of the board role beginning Jan. 1. It also generated $1 billion in losses last year. All rights reserved. Everyday Robots took a fairly novel approach to building an army of cleaning robots. Pilot unions are preparing for battle. We have full confidence that Shameek will continue to grow the legacy of our familys business.. 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. And what are you seeing in terms of customer flows? 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. It's good to talk to you today. Pilot Testifies on Behalf of NATSO for House Committee Hearing on Business Solutions to Climate Change. 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. Representing NATSO was Pilot Company CEO Shameek Konar. And as you know, range anxiety is probably one of the biggest challenges we have on EV adoption. Shameek has successfully launched and grown our Pilot Energy business and become a key member of our leadership team. NATSO thinks that policies to advance the adoption of electric vehicles should foster a dynamic and competitive marketplace that encourages private sector investment in electric vehicle charging infrastructure, and avoid harming those businesses best positioned to accelerate EVs in the market. UP trains deliver raw product to Pilot's 23 rail-served facilities, which it converts to a finished product before delivering by truck to retail locations. The transition of Konar to the role of CEO will continue over the next six months. in April it neededto ease traffic jams in the supply chain and would begin metering deliveries if customers didn't voluntarily reduce inventory. Konar has had a strong track record throughout his career with more than 20 years of experience in the energy and commodity market focusing on acquiring, integrating and optimizing assets. Konar has had a strong track record throughout his career with more than 20 years of experience in the energy and commodity market focusing on acquiring, integrating and optimizing assets. How is that distributed among the partners here? The automaker is planning for $2 billion in cost savings over the next two years. This next phase of leadership ensures the company will remain committed to the industry and to expanding the business while upholding the values instilled by the Haslam family. As CEO, I will be deeply committed to keeping those values in place and investing in our team, while also working to better serve our guests, advance our goals and continue to strategically grow the business.. (Podcast), Former Chief Invsmt Ofcr/Global Head:Business Dev, Castleton Commodities Merchant TD LP. 18 FAQS on Shop Repair & Truck Washes Toolkit, ANSWERS to the Top 18 QUESTIONS About the Travel Center Industry, Professional Driver Buying Behavior at Travel Centers Toolkit, Truckstop and Travel Plaza New Hire Orientation and Training Guidebook, Travel Center Comprehensive Operational Checklist, Truckstop and Travel Plaza Training Manual, How Truckstops Help People Online Learning, Truckstop and Travel Center Employee Retention Guide, Donate to the Bill and Carolyn Moon Scholarship Program. This is a pretty big project here. His journalistic experience includes local daily and weekly newspapers, where he was recognized early in his career as an award-winning news photographer. Is Everyone Else Next? Konar asked the committee to consider the EV charging experience for customers as they transition to electric vehicles. But it's too early to write off Klarna. What we've been seeing specifically in the last couple of months after the elevation in prices and the war is, an average gas customer is consuming or filling, basically, 6% to 7% fewer gallons than they were before. See Shameek Konar's compensation, career history, education, & memberships. Farmers are feeling it when they fuel their tractors and purchase inputs that are manufactured and shipped because of the free flow of oil around the globe. And definitely, we're still way below 2019 levels, both at Pilots and across the country. Rep. Grace Napolitano has previously introduced an amendment to infrastructure legislation that would allow electric vehicle charging stations at rest areas located on the Interstate right-of-way. We conclude that legally emitted toxic chemicals have a significant effect on the intangible asset value of publicly traded companies. Shared by Shameek Konar Join now to see all activity Experience Chief Executive Officer Pilot Company Jan 2021 - Present2 years 2 months Knoxville, Tennessee, United States Chief Strategy Officer. 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. AKIKO FUJITA: Yeah, Pilot's certainly a very familiar sight for those who are out on road trips. Before Mercuria, Mr. Konar was Managing Director and Global Co-Head of Commodities Principal Investments at Goldman Sachs. He is currently chief strategy officer. A prototype print can be complete with all the detailed specifications for the part yet fail to communicate a very critical piece of information. 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. SHAMEEK KONAR: No, all great questions, Brian. Pilot Company keeps North Americas drivers moving as one of the leading suppliers of fuel and the largest operator of travel centers. Bill Haslam will serve on the board. Biden to Nominate Julie Su as Next U.S. Labor Secretary. Lawmakers hope to overcome partisan divisions and address a "generational challenge" to America's national security. Ukrainian Pilots Could Toss Their New GPS-Guided Bombs 50 Miles Behind Russian Lines, Four-Day Workweeks May Be The Future For Startups, One Pilot Program Suggests, Americas Largest Private Companies 2022: Twitter And Continental Resources Join The Ranks, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. 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. For one company, it was an opportunity to transform the way clinical trials are conducted, without sacrificing scientific rigor. Learn more about . Why? Prior to joining CCI, Mr. Konar served as Chief Investment Officer of Mercuria Energy Trading where he oversaw mergers, acquisitions and operations of physical assets across the firm's merchant platform spanning Asia, the Americas and EMEA. The company supplies more than 14 billion gallons of fuel per year and also provides DEF, bio and renewables to the market. But a lot of what was expected coming from Build Back Better is no longer, at least right now. 10 on Forbes' list of largest private American companies. Pilot has a compelling growth strategy in place and a bright future ahead. CEO Jimmy Haslam named chairman; Chief Strategy Officer Shameek Konar named CEO. 445 S. Gay Street, Suite 305Knoxville, Tennessee 37902P: 865-544-0088 | F: 865-544-1865. The show examines all aspects of the legal profession, from intellectual property to criminal law, from bankruptcy to securities law, drawing on the deep research tools of BloombergLaw.com and BloombergBNA.com. So I think people are being way more cautious about the amount of money they're spending, and it is impacting our sales. The One9 Fuel Network provides fleets and professional drivers with more places to stop at a variety of fueling locations. The Review of Economics and Statistics is an 84-year old general journal of applied (especially quantitative) economics. Thanks to Jimmy and Ken Parents leadership, we are well positioned for whats ahead and have an incredible team to get us there, said Konar. Reporters from Bloomberg's Washington, D.C. bureau are prominently featured as they offer analysis of policy and legal issues. Through our commitment to new productswhether digital journals or entirely new forms of communicationwe have continued to look for the most efficient and effective means to serve our readership. Hes very smart, great work ethic, a very humble man, and I think understands people very well. Subscribe to updates and stay connected on the latest news from NATSO. He did not push for an increase in truck weight limits. The rest of Pilots management team will stay in place. The magnitude of these effects varies across industries, with larger losses accruing to the traditionally polluting industries. Six of the companies are still active while the remaining two are now listed as inactive. The rest of Pilots leadership team will remain in place. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 Nexstar Media Inc. All rights reserved. Shameek Konar will be the fourth CEO of Pilot Company. Shameek Konar is Former Chief Invsmt Ofcr/Global Head:Business Dev at Castleton Commodities Merchant TD LP. 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. To your second question, you know, I think in the beginning, it's going to be difficult for us to make money on this. Consumers see it every time they fill up their car and purchase groceries. SHAMEEK KONAR: No, that's a great question. We have full confidence that Shameek will continue to grow the legacy of our family's business.". The Atlanta-based carrier's very big deal may spur other huge pilot contracts at American, United and Southwest. You stop to fill gas. Both Haslams will remain active in the company and on the board. The Knoxville-base truck stop chain announced Tuesday that Haslam will . Shameek has successfully launched and grown our Pilot Energy business and become a key member of our leadership team. He has a degree in Economics and Mathematics from St. Stephens College in India and a PhD in Economics and Finance from Vanderbilt University. So they're a forward-thinking company that is trying to solve this problem. Shameek Konar will become chief executive officer of Knoxville-based Pilot Company beginning in 2021, the company said Tuesday. Our readers have come to expect excellence from our products, and they can count on us to maintain a commitment to producing rigorous and innovative information products in whatever forms the future of publishing may bring. 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 . Much of Konar's testimony, and questions from the panel, centered on the availability of diesel exhaust fluid, or DEF. From time to time, The Review also publishes collections of papers or symposia devoted to a single topic of methodological or empirical interest. The companies will expand to over 500 industrial automation and system integration professionals. Panasonic Awards Turner-Yates Contract to Build EV Battery Plant. 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. Representing NATSO was Pilot Company CEO Shameek Konar. He says the company has committed to building a plant in Monterrey. Shameek Konar Overview. Visit Pilot Company Listen to more FreightWaves Podcasts Subscribe on Apple Podcasts When joining the Pilot family, I was immediately drawn to the strong culture that Jimmy and the entire Haslam family created. Shameek Konar will become chief executive officer of Knoxville-based Pilot Company beginning in 2021, the company said Tuesday. "When joining the Pilot family, I was immediately drawn to the strong culture that Jimmy and the entire Haslam family created. 2023 Industrial Media, LLC. There's about-- there are four of them, which are kind of the larger ChargePoint providers. If you dont innovate, you die, Konar told the newspaper. And I think it helps us with EV adoption going forward. As CEO, store operations and development will be added to Konars role in 2021. It allegedly presents an unacceptable cancer risk to the nearby community. 20,241 executive movements have been recorded in the last 12 months. 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. His knowledge of the energy sector, including expertise in the acquisition, development and operations of infrastructure assets and resources, and his deep appreciation of Pilot's culture and values are a few of the reasons why we chose him to be our next CEO. 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. Certainly a lot of excitement when that announcement first came down. 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 . Headquartered in Knoxville, Tennessee, Pilot Company is the 7th largest privately held company in the United States and employs 28,000 team members. KNOXVILLE, Tenn., July 21, 2020 /PRNewswire/ -- Pilot Company, the leading supplier of fuel and the largest operator of travel centers in North America, announced today that CEO Jimmy Haslam will. Private companies dont always get the attention they deserve compared to their public peers, but this year was different. AKIKO FUJITA: Shameek, let's talk about the bulk of your current business. "OF the 300 million gallons of DEF that Pilot supplies to the industry every year, 74% is moved by rail," Konar said. Konar will ease into the new role over the next six months. SHAMEEK KONAR: You know, EVgo's got a great leadership team that has been focused on trying to innovate in the charging space. The One9 Fuel Network provides fleets and professional drivers with more places to stop at a variety of fueling locations. The Company markets a broad range of physical commodities including natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, petrochemicals, electric power, coal, metals and financial instruments related to commodities. Right? Jimmy Haslam's father, Pilot founder Jim Haslam, will move from chairman to chairman emeritus. Edited at Harvard University's Kennedy School of Government, The Review has published some of the most important articles in empirical economics. Talk to me about how this partnership came about. Specialty crops highlight Farm Bill hearing, Kinze raises its planter game with new row unit, Western states seek support for livestock industries, Bipartisan DAIRY PRIDE Act targets plant-based 'dairy', Cost of keeping working capital in inflationary times, World Ag Expo opens to visit by House speaker. The Haslams weren't charged with wrongdoing. 10 on Forbes list of Americas Largest Private Companies. New China Committee Debuts with Eye on Major Policy Shifts. All rights reserved. It has been called Dr. Seuss Day because of this. Shameek Konar Chief Executive Officer Shameek Konar serves as Pilot Company's chief executive officer. The railroad company has asked that Pilot cut their rail shipments in half. I'm curious how that has affected your business. Konar will be the fourth CEO at the Tennessee-based company that operates 950 retail and fuel locations across North America, theKnoxville News Sentinelreported. "We're not aware of any other company being instructed by the Union Pacific or any other railroad to reduce their shipments to the extent they're asking," Konar testified. 10 on Forbes' list of America's Largest Private Companies. UPDATE 1-China's job market better than expected in Jan-Feb: minister, US approves selling Taiwan munitions worth $619 million, Japan's parliament to vote on BOJ nominees next week, Indonesia's stock market loses its sheen as China reopens, Asian Equities Swing Lower, Led by China Tech: Markets Wrap. For additional photo and video assets, please visit this link. 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. Heres How Soon Self-Flying Planes Will Take Off. 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. A diesel engine without DEF will automatically shut down if it is not available. Shameek Konar Mark A. Cohen Previous studies that attempt to relate environmental to financial performance have often led to conflicting results due to small samples and subjective.
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