RLH Corporation Appoints R. Carter Pate as Chairman
26 Dicembre 2019 - 10:24PM
RLH Corporation (NYSE:RLH) today announced
Robert Wolfe will be retiring from the Board of Directors on
December 31, 2019. The Board of Directors has selected independent
director R. Carter Pate (“Carter”), who has been a board member
since May 2019, as Chairman. The Board and Mr. Wolfe believe this
transition is opportune as the Company launches its search for a
permanent Chief Executive Officer. The Board thanks Bob for his
dedicated leadership over the last seven years as RLHC embarked on
its strategic evolution to a fee-based franchise business model.
Mr. Pate will assume responsibilities as Chairman effective
December 26, 2019.
Mr. Wolfe commented, “As I considered RLHC’s ongoing evolution
and my retirement plans, I determined that this would be an
appropriate time to transition the Board to new leadership.
RLHC has undergone a remarkable transformation over the last seven
years, and it is time for clear focus on the opportunities
ahead. As the Company transitions to new leadership at the
Chief Executive Officer position, it will be important to have
close collaboration between the CEO and Board Chair to achieve
RLHC’s vision. Carter Pate has a track record of success and
a unique skill set which includes dynamic leadership that can be
levered for the benefit of RLHC and its shareholders. I am highly
confident that the Board will be in good hands.”
Carter Pate stated, “I am honored to serve as RLHC’s next
Chairman. The Company is at an exciting juncture in its evolution
where adherence to strategy execution is vital to completing a
successful transformation to a fee-based franchise Company.
Bob has worked hard to get RLHC to this stage, and I am energized
to take up the baton. The timing of the Chairman transition should
dovetail nicely with RLHC’s search for a permanent Chief Executive
Officer. I look forward to applying learnings from previous
experience to RLHC’s strategy and guiding management’s efforts to
grow the brand and enhance the Company’s financial
performance.”
Mr. Pate, age 65, was elected a Director in May 2019. He
has had a distinguished career in directing performance
improvement, executive management, finance, and board service,
including experience as a public company chairman. He has led
numerous companies through strategic change and has the required
skill set to help the Board and management team to realize its full
potential as a franchise Company.
Mr. Pate recently completed serving as Interim Chief Executive
Officer at The Providence Service Corporation, (NASDAQ: “PRSC”) a
position he had held since 2017. He is the Founder and Chief
Executive Officer of Carter Pate, LLC, a consulting and investment
firm he founded in 2014. From 2011 to 2014, Mr. Pate served as the
Chief Executive Officer of MV Transportation, Inc. the largest
privately owned passenger transportation logistics firm based in
the United States.
Prior to joining MV, he was the Global and U.S. Managing Partner
of Healthcare and Government Practice for PricewaterhouseCoopers,
LLP and prior served in various roles as US Managing Partner,
Advisory Line of Service and US Managing Partner, Corporate
Restructuring Partner.
Mr. Pate has previously served as the Chairman of the Board of
BioScrip, Inc. (NASDAQ: “BIOS”) prior to its merger with Option
Care Health since 2015 and now serves as a Director and on the
Audit Committee of the combined Company. He is also a Director of
Advanced Emissions Solutions, Inc. (NASDAQ: “ADES”) since 2016
where he also serves on the audit committee and is the Chair of its
compensation Committee. Mr. Pate is a Certified Public
Accountant in Texas. He is a co-author of The Phoenix Effect: Nine
Revitalizing Strategies No Company Can Do Without, originally
published in 2002 and translated into five languages. Mr. Pate
holds a Masters in Accounting and Information Management from the
University of Texas at Dallas, and a BS in Accounting from
Greensboro College.
The Nominating and Governance Committee is engaged in its annual
process of assessing the Board’s needs and skills, and as part of
that comprehensive analysis will determine whether to replace one
or both of its open board seats. In addition, the Search Committee,
led by Jake Brace, has engaged AETHOS Consulting Group, an
executive search firm to assist in the recruitment of a permanent
Chief Executive Officer, and that process is ongoing.
About RLH Corporation RLH Corporation is an
innovative hotel company focused on the franchising of upscale,
midscale and economy hotels. The company maximizes return on
invested capital for hotel owners across North America through
relevant brands, industry-leading technology and forward-thinking
services. For more information, please visit the company's website
at www.rlhco.com.
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Investor Relations Contact: Nikki
SacksInvestor
Relations203-682-8263investorrelations@rlhco.com
Media Contact: Roxanne
Rabasco303-459-4192Roxanne.Rabasco@rlhco.com
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