For Immediate Release
EY ANNOUNCES KAR AUCTION SERVICES CEO JIM HALLETT IS THE EY ENTREPRENEUR OF THE YEAR™ 2014 NATIONAL SERVICES AWARD WINNER
Award recognizes national entrepreneurial excellence
Carmel, Ind.-based KAR Auction Services, Inc. (NYSE: KAR), a provider of used vehicle auction services, announced today that CEO Jim Hallett is the EY Entrepreneur of the Year™ 2014 National Services Award winner.
The EY Entrepreneur of the Year award, a leading business award for entrepreneurs, encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses. Hallett was selected from more than 250 regional award recipients by a panel of independent judges at the Entrepreneur of the Year Awards gala, the culminating event of the EY Strategic Growth Forum®, in Palm Springs, Calif., on Saturday, November 15.
“This award is truly an honor, and it is humbling to have been chosen from so many talented and accomplished leaders who I personally find to be so inspiring,” said Hallett. “I would like to thank our 12,000 employees across the United States, Canada and Mexico for the work they do every day to make KAR successful. It is their talent and dedication and that make this recognition possible.”
Hallett received this award due to his entrepreneurial mindset that spurred unmatched growth for KAR, and for his unwavering passion for the business. Under his leadership, KAR was transformed into one of the best-performing investments in private equities partners’ portfolios, even during the economic downturn. Through organic growth, fee increases, expense cuts, technology enhancements, volume growth, acquisitions, and recruitment and retention of top talent, KAR has been able to double its market capitalization since the company’s December 2009 IPO.
About KAR Auction Services
KAR Auction Services, Inc. (NYSE: KAR), a FORTUNE® 1000 company, operates used vehicle auction services for North American sellers and buyers worldwide. Based in Carmel, Ind., the KAR group of companies is comprised of ADESA, Inc. (ADESA), Insurance Auto Auctions, Inc. (IAA), Automotive Finance Corporation (AFC), and additional business units, with nearly 12,000 employees across the globe. Together, KAR’s complementary businesses provide support, technology and logistics for the used vehicle industry. For more information, visit karauctionservices.com.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation.
About EY Entrepreneur Of The Year™
EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy
About EY’s Strategic Growth Markets Network
EY’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of high-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage, venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business succeed. For more information, please visit us at ey.com/sgm or follow news on Twitter @EY_Growth.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.