CARMEL, Ind., May 2, 2016—KAR Auction Services, Inc. (NYSE: KAR), a leading end-to-end vehicle remarketing services provider, today announced that Mike Eliason has been named vice president of investor relations and treasurer. Eliason, who most recently served as vice president of financial planning and analysis, will report directly to Eric Loughmiller, executive vice president and chief financial officer of KAR.
In this new role, Eliason will be responsible for directing the organization’s investor relations, budgeting, forecasting, investment of funds, and cash management activities. He will also continue to lead the company’s financial planning and analysis initiatives.
“With more than 20 years of finance industry experience, Mike has demonstrated a proven track record of savvy leadership and meaningful results,” said Loughmiller. “With his combination of experience and industry insight, Mike is an excellent leader for this role.”
Eliason joined the KAR group of companies in 2003 as a controller for ADESA Impact, and later was promoted to vice president of financial planning and analysis for KAR Auction Services. Prior to his time with KAR, Eliason served in a variety of business development and finance roles with ALLETE, ADESA’s former parent company, Enbridge and KPMG. Eliason earned his bachelor’s degree in accounting from Saint John’s University, and his Master of Business Administration from the University of Alberta.
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 more than 15,000 employees and approximately 250 auction facilities. Together, KAR’s complementary businesses provide support, technology and logistics for the used vehicle industry. For more information, visit karauctionservices.com.
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