FOR IMMEDIATE RELEASE
Media Inquiries: Analyst Inquiries:
Darci Valentine Jonathan Peisner
KAR AUCTION SERVICES NAMES JIM HALLETT CHAIRMAN OF THE BOARD
CARMEL, Ind., January 21, 2015 – Carmel, Ind.-based KAR Auction Services, Inc. (NYSE: KAR), a provider of used vehicle auction services, announced today that it has appointed Chief Executive Officer Jim Hallett as chairman of the board of directors. KAR Auction Services Chair of the Nominating and Corporate Governance Committee Ryan Birtwell made the announcement.
“Jim was a natural fit for this role, given his extensive industry experience and professional insights,” said Birtwell. “This experience balances nicely with our new, independent board members and their diverse backgrounds and talents. Jim’s leadership skills will foster strong collaboration and decisive action for the company.”
Hallett has been with the KAR group of companies since 1993, when he joined ADESA Canada as president. In 1996, he relocated from his native Canada to Indianapolis to serve as president and chief executive officer of ADESA. During his time as CEO of ADESA, the company grew from 16 to 53 whole-car auctions and expanded its finance company, Automotive Finance Corporation, to fully service the floorplanning needs of the industry. He also solidified ADESA’s presence in the remarketing industry by entering the salvage vehicle market both in the United States and Canada. From 2005 to 2007, Hallett was president of Columbus Fair Auto Auction in Columbus, Ohio. In April 2007, he returned to ADESA in the role of president and CEO, and in September 2009, he was named CEO of KAR Auction Services.
“I am incredibly honored to lead the KAR group of companies and our team of talented and dedicated people,” said Hallett. “I look forward to continuing our successful history of innovative growth and am energized by this new opportunity.”
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.