For Immediate Release
KAR AUCTION SERVICES CHIEF FINANCIAL OFFICER RECEIVES INDIANAPOLIS BUSINESS JOURNAL CFO OF THE YEAR AWARD
CARMEL, Ind.—KAR Auction Services, Inc. (NYSE: KAR), a provider of used vehicle auction services, announced today that Eric Loughmiller, executive vice president and chief financial officer of KAR Auction Services, Inc., received the Indianapolis Business Journal’s 2015 CFO of the Year award in the public companies category. KAR Auction Services, Inc. CEO and Chairman Jim Hallett made the announcement.
The CFO of the Year awards program honors a group of 15 CFOs in five categories whose influence extends far beyond the realm of finance, and who play vital roles in making Indianapolis businesses, private companies and not-for-profit groups successful. These individuals have a passion for their organization, they embody high ethical standards and commitment to their communities, and they have a proven track record of results. The 15 honorees and five winners were honored at the CFO of the Year awards event on December 4.
“Eric is much deserving of this recognition, and we couldn’t be more proud of his accomplishments and contributions to the growth of the KAR group of companies. His visionary leadership style and extensive knowledge of financial services has led him to be one of the top leaders not only in our organization, but the industry as a whole,” said Hallett. “This recognition is a reflection of Eric’s unique ability to elevate the overall service offerings of the company.”
Loughmiller has more than 20 years of experience in both finance and public accounting. His career started in 1981 at PriceWaterhouse, where he assisted more than 20 companies with public offerings. He joined Insurance Auto Auctions (IAA), a business unit of KAR Auction Services, as a consultant. In 2007, he became CFO of IAA and was later promoted to EVP and CFO of KAR Auction Services.
About KAR Auction Services
KAR Auction Services, Inc. (NYSE: KAR), a FORTUNE® 1000 company, operates worldwide vehicle auction services and provides related services. Based in Carmel, Indiana, 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 approximately 13,000 employees and 240 auction facilities. Together, KAR’s complementary businesses provide support, technology and logistics for the used vehicle industry. For more information, visit karauctionservices.com.