Insurance Auto Auctions, Inc. (IAA), a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services Inc. (NYSE: KAR), announces the appointment of Vance Johnston as chief financial officer. Johnston will report to John Kett, chief executive officer and president.
“We are excited to welcome Vance to the IAA team,” said John Kett, CEO and president of IAA. “Vance’s successful track record of leading strong finance teams and driving operational efficiency throughout organizations will support our strategy of delivering improved economic returns for our customers by decreasing cycle times and increasing efficiencies. In addition, we are making strategic investments to help fuel innovative approaches to our operations. Vance’s extensive financial and public company background combined with his corporate strategy and operational expertise will be significant assets to IAA as we move into our next phase of growth.”
With nearly 30 years of finance, accounting, corporate strategy and treasury experience, Johnston brings a diverse combination of high-growth and public company experience. Most recently, Johnston served as chief financial officer for SP Plus Corporation, a provider of professional parking, ground transportation, facility maintenance, security and event logistics services. At SP Plus, Johnston was responsible for the finance, accounting, treasury, investor relations, strategy, corporate development, IT and procurement functions.
Prior to SP Plus, Johnston was chief financial officer for Furniture Brands International and held various finance, corporate strategy and operational positions at leading companies, such as Miami Jewish Health Systems, Royal Caribbean International, Burger King and OfficeMax. He started his career at Ernst & Young in the firm’s audit division. Johnston earned his Bachelor of Science degree in business administration and management from the University of San Diego and his Master of Business Administration degree from the University of Chicago.
Johnston will be based at the company’s headquarters in Westchester, Illinois.