CARMEL, Ind. – February 22, 2018 – ADESA, a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services, Inc. (NYSE: KAR), announced that Paul Lips will take on the newly created position of chief commercial officer for ADESA and Srisu Subrahmanyam will join the ADESA senior management team as chief operating officer. Lips and Subrahmanyam will lead continued efforts to integrate new technology into ADESA’s online and physical auction marketplaces, expand the company’s product and service offerings and transform the ADESA customer experience.
In his new role, Lips will be responsible for simplifying the ADESA customer experience and coordinating business development efforts with the marketing, sales and client relationship teams. Lips has held a variety of management roles since joining ADESA in 1996, including corporate controller for ADESA’s finance department, chief financial officer, vice president of investor relations and planning, and senior vice president of operations. Lips served as executive vice president of operations and finance before taking the previous role of chief operating officer in 2016.
Taking over as ADESA chief operating officer, Subrahmanyam will lead the strategic growth and development of the U.S. auction operations group, bringing a process-driven mindset to delivering superior customer service and operational effectiveness. He previously held the positon of senior vice president of business transformation for KAR and was responsible for overseeing organizational optimization. Subrahmanyam has worked to align corporate operations to the company’s strategic priorities. He brings more than 20 years of executive operations and consulting experience to the role, including leadership positions across multiple Fortune® 1000 companies and industries such as aviation, technology, logistics and education. Subrahmanyam and Lips will report to John Hammer, newly named president of ADESA.
“ADESA has made investments in people, technology and data analytics to ensure we are delivering industry-leading innovative solutions that enhance our customers’ experience,” said John Hammer, newly named president of ADESA. “I’m confident that Paul and Srisu can further leverage our client offerings to expand our customer relationships and lead the ADESA team toward continued growth.”
ADESA is a leading provider of vehicle auction and remarketing services with 14 auction locations across Canada and 75 vehicle auctions throughout North America.
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About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used-vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 110 countries. Headquartered in Carmel, Ind., KAR has approximately 17,600 employees across the United States, Canada, Mexico and the United Kingdom.www.karauctionservices.com
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