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KAR Holdings Restructures Senior Management Team

Tom Caruso will assume Mr. Hallett’s previous role as CEO and president of ADESA

KAR Holdings has appointed Jim Hallett as its chief executive officer replacing Brian Clingen, who will remain as chairman of the board. Tom Caruso, current chief operating officer of ADESA, will assume Mr. Hallett’s previous role as CEO and president of ADESA.

Mr. Clingen said: “These moves reflect the tremendous accomplishments that Jim and the KAR Holdings leadership team have achieved in what has been an extremely challenging environment. The Board of Directors and I look forward to working with Jim in his new role as he leads the continued growth and success of KAR Holdings.”

Jim Hallett said: “I’m honored to follow Brian as the next CEO of KAR Holdings and am excited to assume this new role. Over the last two and half years since the formation of KAR Holdings and its family of companies, I believe we have grown into a cohesive company with a reputation for outstanding service to all of its customers. I look forward to building on this foundation.

“Tom has been an integral part of the success ADESA has achieved both internally with employees and externally with customers. Tom Caruso’s character, reputation and tremendous work ethic will enable him to very effectively transition to this new leadership role.”

Mr. Caruso commented: “I look forward to the new challenges as CEO and president of ADESA. In my new role, I will focus on providing leadership to all of the employees of ADESA while ensuring we provide exceptional service to all of our customers.”