KAR Auction Services, Inc. dba KAR Global, an operator of digital marketplaces for wholesale used vehicles, announced that Peter Kelly assumed the role of chief executive officer effective April 1, 2021. Kelly has served as KAR Global’s president since 2019 and succeeds Jim Hallett who has led the company as chief executive officer since 2009 and became Chairman in 2014. Hallett will become executive chairman of KAR Global and continue to advise the company on strategic and customer and investor relations matters. Hallett will continue serving as chairman of the KAR Global board of directors, with Kelly being named as a new director beginning April 1, 2021.
Kelly joined KAR in 2011 and he rapidly scaled the startup technology to become the world’s largest private-label online auction platform supporting more than 40 OEM and financial institution brands. Kelly became chief technology officer of KAR in 2013, was named president of KAR’s digital services in 2014 and became KAR’s president in 2019.
Hallett joined the company in 1993 as president of Adesa Canada. He became chief executive officer of Adesa in 1996. Hallett took the combined company public in 2009 as KAR Auction Services, Inc. and in 2019, led the successful spin-off of IAA, which generated significant value for KAR stockholders. Under Hallett’s leadership, KAR expanded across North America and Europe with growing annual sales.
Published in the April 2021 Edition