Service Properties Trust Elects Rajan Penkar to Board of Trustees

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[{"type":"text","content":"\nExpanded Eight-Member Board Includes Six Independent Trustees,\nTwo Women, and Two Members of Underrepresented Communities\n\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nService Properties Trust (Nasdaq: SVC) today announced that it has elected Rajan Penkar to its Board as an Independent Trustee, effective immediately. With the addition of Mr. Penkar, SVC’s Board now has eight Trustees, including six independent Trustees, two of whom are women, and two of whom are members of underrepresented communities.\n\n\nMr. Penkar has served as president and founder of Supply Chain Advisory Services, LLC, which provides e-commerce and omni-channel supply chain design and optimization services to retailers, since 2014. From 2011 to 2014, Mr. Penkar served as senior vice president and president, supply chain, for Sears Holding Corporation, an integrated retailer. In this position, Mr. Penkar was accountable for all aspects of the supply chain, including global sourcing, retail and e-commerce distribution and fulfillment, global transportation, inventory management, and inside-the-home delivery and installation of appliances and big-ticket merchandise. Before joining Sears Holding Corporation, Mr. Penkar held various positions of increasing responsibility with United Parcel Service, Inc. from 1987 to 2011, most recently serving as president, UPS Customer Solutions. Mr. Penkar holds a certificate in cybersecurity oversight from Carnegie Mellon University and the National Association of Corporate Directors. Mr. Penkar’s experience also includes having previously served on the board of directors of U.S. Concrete, Inc., USA Truck Inc. and TravelCenters of America Inc.\n\n\nAdam Portnoy, Chair of SVC’s Board of Trustees, made the following statement on today’s announcement:\n\n\n“Raj brings to SVC’s Board his extensive experience as a leader in supply chains across diverse industries, in addition to broad capital markets and significant public company board experience. With the addition of Raj, the SVC Board is comprised of 75% of independent trustees and 25% members of underrepresented communities. The rest of the Board joins me in welcoming Raj.”\n\n\nAbout Service Properties Trust:\n\n\nService Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused...

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