For Immediate Release
ADESA PROMOTES PAUL LIPS TO CHIEF OPERATING OFFICER
Lips to lead ADESA’s new U.S. auction region structure with the addition of two new regional vice presidents
CARMEL, Ind.—ADESA, a business unit of KAR Auction Services (NYSE: KAR), announced today that it has promoted Paul Lips from executive vice president of operations and finance to chief operating officer of ADESA U.S.
Lips will lead the entire U.S. auction operations group, which is being realigned from two regional groups to four regional groups. This new structure allows the company to implement best practices and standardize processes to provide more dedicated service and support to customers nationwide.
“At ADESA, we are continually developing new strategies to ensure our customers have the best auction experience possible. The launch of four regions in place of two will enable us to further satisfy our customers’ needs, and better leverage our resources and multiple assets at KAR Auction Services,” said Stéphane St-Hilaire, CEO and president of ADESA. “Paul is a proven innovator and leader who has consistently strengthened our operations since joining the company nearly two decades ago. His unique blend of financial and operational expertise will be essential to driving this exciting change.”
Lips has held a variety of management roles since joining ADESA in 1996, including corporate controller for ADESA’s finance department, vice president of investor relations and planning, and senior vice president of operations and finance. Most recently, he served as the executive vice president of operations and finance.
As part of this realignment, two ADESA general managers have also been promoted to lead the new auction regions as regional vice presidents.
Jay Hinchman, previously general manager of ADESA Las Vegas, will now serve as the vice president of U.S. auction operations in the new Midwest region. Hinchman has more than 20 years of experience in the auto remarketing industry, including various management and executive positions at Bank of America/Oxford Resources Corp and the JM Family Enterprises. Hinchman joined ADESA in 2008.
Geoff Parker, previously general manager of ADESA Cincinnati-Dayton, will now serve as regional vice president of U.S. auction operations in the new Mideast region. Parker started his ADESA career in 2003 as the national accounts manager for ADESA Dallas. He was then promoted to fleet lease manager in 2005 and again to assistant general manager in 2007. In 2008, he was named general manager at ADESA Cincinnati-Dayton.
Along with the new Midwest and Mideast regions, Pat Stevens and Mike Caggiano will continue as executive vice presidents of U.S. auction operations in the West and East regions, respectively. Stevens joined ADESA in 2000 and brings more than 20 years of remarketing experience to his role. Caggiano has also served in the industry for more than 20 years and joined ADESA in 1996.
To further support this new auction operation structure, Doug Shore, previously vice president of business operations, will serve as senior vice president of auction operations and will oversee new auction integration and capital allocation. Also, Jane Morgan, president of specialty auction divisions, will expand her role to include mobile auction offerings and assist with geographic expansions.
ADESA offers a full range of auction, reconditioning, logistical and other vehicle-related services to meet the remarketing needs of both its institutional and dealer customers. The company handles virtually every stage of the used-vehicle lifecycle through its related subsidiaries of PAR North America, RDN, AutoVIN and CarsArrive. Remarketing services include a variety of activities designed to transfer used vehicles between professional sellers and buyers.
ADESA hosts weekly sales at its 74 auction locations across the United States, Canada and Mexico. The company also builds and manages online sale platforms for many major vehicle manufacturers. The company’s online auction venues include ADESA LiveBlock, which simulcasts vehicles worldwide; and ADESA DealerBlock, which offers two ways to buy: bid-now sales events or buy-now pricing 24/7. ADESA is part of the KAR Auction Services group of companies. Visit ADESA.com for details.