For Immediate Release
Vice President, Marketing
Insurance Auto Auctions Announces John W. Kett Named President, Tom C. O’Brien Continues As CEO
Leadership Strength Supports Future Growth Strategies
Westchester, Ill. — Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced executive leadership changes. “I am pleased to announce that John Kett has been named President,” stated Tom O’Brien, CEO. “John will also continue to serve as the company’s Chief Financial Officer, and I will continue as Chief Executive Officer.”
Kett joined IAA in 2001 as senior vice president of planning and business development and was named senior vice president and CFO in 2007. During this time IAA nearly tripled its corporate-owned auction facilities, which set the stage for its leading position in the salvage auto auction industry. O’Brien has been IAA’s President and CEO since November of 2000.
“Similar to our hard-working employees throughout the organization, a significant contributor to our success and growth has been our executive management team,” said Tom O’Brien, CEO. “John’s promotion is both a reflection of his contribution to the organization’s achievements and to communicate his future role in a senior leadership position. I look forward to further working with John and continuing our leadership direction as we provide industry leading, innovative solutions to the salvage auto industry for our buyer and supplier clients.”
“I am excited about the opportunity to continue to serve the company, our employees, our providers and buyers in an expanded role,” Kett stated. “I look forward to helping the company achieve even greater levels of success in the future.”
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions, Inc. (IAAI), a wholly owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), provides the advantage in salvage auto auctions with its Hybrid Auction Model combining live and live-online auctions, North America’s broadest salvage auction facility footprint, a strong global buyer base and high vehicle returns. IAA’s more than 155 facilities across the United States and Canada provide vehicle suppliers and buyers with powerful solutions to process and acquire total-loss, recovered-theft, fleet lease, donation and rental vehicles. The IAA Hybrid Auction Model, including live, live-online, and proxy bidding, united with its mature global buyer base and diverse inventory, produce some of the industry’s highest returns for vehicle providers. IAA also facilitates the national One Car One Difference™ vehicle donation program www.1car1difference.com. With nearly 30 years in the industry, IAA holds a comprehensive warehouse of salvage auction data. For more information regarding IAA visit our website at www.iaai.com.