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KAR Auction Services Announces Additions to Management Team

Jun 17 2013 12:00AM

Marketwire

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CARMEL, IN -- (Marketwired) -- 06/17/13 -- KAR Auction Services, Inc. (NYSE: KAR) today announced the promotions of Peter Kelly to the position of chief technology officer and Lisa Price to the position of executive vice president of human resources for KAR Auction Services. Both Kelly and Price will report directly to KAR CEO Jim Hallett.

Kelly most recently served as president and CEO of OPENLANE, which KAR acquired in late 2011. Price served as vice president of litigation and employment counsel for KAR and all of the company's business units.

"Peter has contributed tremendously to our ability to leverage technology to enhance our online vehicle remarketing platforms," said Hallett. "Technology is now an integral part of our business. We are already well-equipped with the appropriate leadership for our core business units and our technology departments. Now we have someone focused on where those two areas intersect in order to maximize value for our employees, our customers and our other stakeholders."

Kelly, who co-founded OPENLANE in 1999, grew the company from concept stage to an industry-leading online automotive auction operation. During this time, he held several executive positions in finance, operations, management and customer relations. Kelly next oversaw a successful technology integration that involved migrating all of ADESA's online business to the OPENLANE technology platform.

"Peter is a technology innovator -- he has the background and the technological expertise," said Hallett. "He is the right balance of IT and business and is uniquely positioned to apply this expertise to shape KAR's strategic direction in the areas of technology."

In his new role, Kelly will define and implement best technology practices across all business units, identify and offer insight on appropriate technology-related investments, and track technology standards, industry trends and emerging technologies. A major part of his focus will be the online strategy and execution for ADESA, including OPENLANE and its customers.

"I look forward to playing an expanded role in helping shape the technology choices we make as a company," said Kelly. "It is an exciting time in our industry -- technology is really transforming the way we do business -- and creating many new opportunities in the process. I am looking forward to the challenge and to further establishing KAR's presence in the marketplace."

In her new role, Price will oversee all of the human resources' functions for KAR and all its subsidiaries, including ADESA, IAA and AFC. She will be responsible for identifying and implementing best practices that enable all human resources' teams to act as a strategic partner to the company and most efficiently and effectively serve the needs of employees. A key focus for Price will be to bring human resources, payroll and compensation departments enterprise-wide into alignment with KAR's strategic and operational goals and objectives.

"During her nearly eight years with us, Lisa has proven to be a valuable asset for KAR. She has directed everything from employment litigation and third-party liability to HR compliance matters and responses to OSHA inquires," said Hallett. "Lisa brings a strong background not only in employment and law to this role, but also a vast institutional knowledge of our business and our industry."

Before joining ADESA as corporate counsel in 2005, Price worked in private practice for six years in the areas of employment law, litigation and compliance issues. She is skilled in the areas of workers compensation, employee relations and employee benefits as well as risk management.

"I have worked closely with all our business units throughout the years and have enjoyed building strong relationships with these teams," said Price, "I am excited by this opportunity to take KAR's human resources functions to the next level and better align these objectives with the goals of our organization as a whole."

"Lisa truly shares my passion for supporting employees and appreciates the fact that our employees are our company's most important asset," said Hallett. "She understands that serving the best interest of our employees crosses over to higher levels of customer service and customer satisfaction."

About KAR Auction Services, Inc.
KAR Auction Services, Inc. (NYSE: KAR) is the holding company for ADESA, Inc., ("ADESA"), Insurance Auto Auctions, Inc., ("IAAI") and Automotive Finance Corporation ("AFC"). ADESA is a leading provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides a leading Internet automotive auction platform. Insurance Auto Auctions is a leading salvage vehicle auction company with 163 sites across North America. Automotive Finance Corporation is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 104 sites across North America. Together, KAR Auction Services provides a unique, comprehensive, end-to-end solution for our customers' remarketing needs. Visit karauctionservices.com for additional information.



Darci Valentine
darci.valentine@adesa.com
317-249-4414





Source: Marketwire