Industry pioneers named to leadership roles in product
development, data analytics and strategic planning
CARMEL, Ind., Nov. 14, 2016 /PRNewswire/ -- Carmel,
Ind.-based KAR Auction Services, Inc. (NYSE: KAR), a leading
vehicle remarketing and technology services provider, announced the
creation of new enterprise functions and leadership roles in
product development, data analytics and strategy. KAR Chief
Executive Officer and Chairman of the Board Jim Hallett made the
announcement.
"Our industry is rapidly evolving, with emerging new markets and
increasing customer demand for better technology, transparency and
service. KAR's unique end-to-end remarketing platform and
integrated technology solutions position us well to lead change in
this dynamic environment," said Hallett. "Taking a more holistic,
enterprise approach to these functions will help KAR better serve
our customers and accelerate opportunities for growth."
The strategic development of enterprise KAR functions and
corresponding leadership roles are aimed at leveraging the broad
expertise, innovation and entrepreneurial talent across the KAR
family of companies. By instituting a more aligned approach to
product development, data analytics and strategy, KAR will more
quickly and effectively bring new products, services and
capabilities to market.
"At KAR, we have a very simple and singular focus – to help our
customers succeed. Our integrated platform streamlines the auction
experience and delivers actionable insights that help sellers and
buyers make the most informed decisions possible," said KAR Chief
Operating Officer Don Gottwald. "We
have hired and promoted a proven team of industry pioneers to
further empower our customers and anticipate unmet needs in the
market. Our goal is to radically expand both the scope and impact
of our mobile, digital, and physical and online auction
capabilities."
The new leaders represent a strong, complementary combination of
internal promotions and external recruitment from top industry
sources. Together, they help fortify the seasoned and experienced
leadership team at KAR.
As the senior vice president of product development,
Pat Walsh will institute an agile
approach to new product development to more quickly and effectively
identify, foster, and deploy new ideas and solutions for KAR's
customers. Walsh has been a key leader within the company for
nearly 30 years, previously serving in senior roles at KAR's
Insurance Auto Auctions (IAA) salvage auction and ADESA whole-car
auction subsidiaries.
Chris Adams will serve as the
vice president of market development. In his role, he will identify
opportunities to expand KAR's broad portfolio of technology and
capabilities to new channels, markets and geographies. Adams brings
two decades of industry expertise and a proven track record of
success driving growth in large-scale and start-up environments,
including Pep Boys and Enterprise Rent-A-Car.
Industry expert and thought-leader Tom
Kontos has been elevated to the role of chief economist for
KAR. Kontos will aggregate economic and industry data with KAR's
vast data resources to analyze a wide spectrum of market trends.
His insights will help customers better understand the many diverse
and complex factors that influence their businesses and the
industry. Kontos is building on his 16-year tenure with ADESA,
KAR's whole car auction business unit, where he established himself
as a global authority on economic trends in the automotive
sector.
Terrence Wynne, vice president of
data as a service, will work closely with Kontos and KAR's Data
Science Solutions team to translate data into clear, actionable
insights for sellers and buyers. Wynne joins KAR with a diverse
portfolio of experience driving the application of data science to
product, strategy and decision making, including roles at Audi,
NADA Used Car Guide and ALG. Terrence's work will deliver a
data-driven suite of capabilities and predictive analytics that
help KAR customers make more informed and customized decisions.
As the vice president of strategy, Joe
Bannon will lead KAR's strategic planning activities. Bannon
will focus on aligning and prioritizing investment and business
decisions to extend KAR's footprint and positively impact
customers. Joe's career spans 30+ years in the automotive,
advertising and media industries, in roles including account
management, business development, operations, product, sales and
strategy.
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
nearly 18,000 employees and 300 locations. Together, KAR's
complementary businesses provide support, technology and logistics
for the used vehicle industry. For more information, visit
karauctionservices.com.
Forward Looking Statements
Certain statements contained in this release include
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and which are subject to
certain risks, trends and uncertainties. In particular, statements
made that are not historical facts may be forward-looking
statements. Words such as "should," "may," "will," "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates,"
and similar expressions identify forward-looking statements. Such
statements are not guarantees of future performance and are subject
to risks and uncertainties that could cause actual results to
differ materially from the results projected, expressed or implied
by these forward-looking statements. Factors that could cause or
contribute to such differences include those matters disclosed in
the Company's Securities and Exchange Commission filings. The
Company does not undertake any obligation to update any
forward-looking statements.
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SOURCE KAR Auction Services, Inc.