New Board Members Bring Decades of Experience in Automotive, Mobility, Private Equity and Innovation
KAR Auction Services Inc. d/b/a KAR Global (NYSE: KAR) announces three additions to its board of directors — expanding board diversity and cross-industry expertise. Stefan Jacoby has more than 30 years of automotive industry experience, most recently in mobility ventures. Over his 20-year career, David DiDomenico has managed investment portfolios at various financial firms. Mary Ellen Smith brings extensive knowledge of global operations and digital transformation from her 20 years at Microsoft and Hewlett-Packard.
“At KAR, we continue to lead the transformation of the remarketing industry by making strategic investments and accelerating our digital innovation and global expansion,” said Jim Hallett, chairman and CEO of KAR Global. “It only makes sense that we tap board talent with decades of experience in financial investments like David, with the automotive industry success that Stefan has achieved and with the deep global operations and technology expertise that Mary Ellen brings to the table. Our board of directors with diverse backgrounds and deep knowledge will help lead the KAR Global evolution into an even more data-driven, technology-enabled company.”
Jacoby has served in international executive leadership and C-suite roles at Volkswagen, Mitsubishi, Volvo and General Motors over his 30-year automotive industry career. Before transitioning into his current advisory and mentorship roles focused on mobility and autonomous and electric vehicles, Jacoby was a member of the General Motors global leadership team as executive vice president at GM International operations in Singapore. He has served on the boards of GM Korea and Volvo and as the chairman of the Auto Alliance in Washington, D.C. Jacoby is a graduate of the University of Cologne, Germany.
For the past nine years, DiDomenico has been a partner at JANA Partners, where he previously served as a portfolio manager for funds focused on event-driven strategy. DiDomenico has more than 20 years of investment management and acquisition experience, serving in leadership positions at several financial firms. He earned his undergraduate degree from Harvard University and a Master of Business Administration from Stanford University Graduate School of Business.
Smith has spent the past 13 years advancing her career through multiple leadership roles at Microsoft, where she is currently corporate vice president of worldwide business operations. During her time at Microsoft, she has helped lead global strategy for digital business operations transformation. Before joining Microsoft, she served in operations leadership positions at Hewlett-Packard. Smith has been honored by the state of Nevada with the Governor’s Distinguished Business Award, was presented the Chairman’s Award for leadership at Microsoft and was named one of the Top Women in Tech and a Woman of Influence. She is a graduate of Bowling Green State University and earned her Master of Business Administration from Wright State University and completed an executive development program by the Stanford University Graduate School of Business.
“At KAR Global, our employees and our board of directors are laser-focused on becoming the leading end-to-end global remarketing solution for our customers,” said Hallett. “Through our acquisitions, integrations and innovations, we have taken many steps toward powering automotive marketplaces across the world. Our new board leaders can help us continue the journey.”