IAA Announces Leadership Addition
Published August 31, 2015 - Written by IAA, Inc
WESTCHESTER, Ill., August 31, 2015 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR) and the leading live and live-online salvage auto auction company today announced that Tim O’Day will join the company as Senior Vice President of Finance reporting to John Kett, Chief Executive Officer and President.
With almost thirty years of experience in finance, operations, and general management, O’Day has a combination of big company, start up and high growth business experience. Most recently O’Day worked for nine years as COO and then CFO for MedSpeed, the leading national healthcare transportation and logistics provider. Prior to MedSpeed, O’Day founded and ran a B2B internet technology company, was president of a regional special event company, CFO of an equipment rental chain, and director of finance for a national auto glass company. He started his career at Abbott Laboratories, first in a management training program followed by various financial management positions in corporate and in the field. O’Day earned his Bachelor of Science degree in business from Indiana University.
“I am excited to work with Tim and further accelerate IAA’s strong momentum,” said John Kett, IAA’s chief executive officer and president. “Tim’s broad background of financial success combined with his operational and logistics experience will be significant assets to the IAA organization as well as KAR Auction Services. I look forward to him joining the executive team as we continue to grow and expand the IAA organization.”
Mr. O’Day will be based at the company’s headquarters in Westchester, Illinois.
Jeanene O’Brien SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has over 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle with a focus on delivering the highest economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and digital bidding tools, enhancing the overall purchasing experience.
Uncertainties Affecting 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. Such forward-looking statements include the statements regarding IAA’s future financial and operating performance, benefits and synergies of the separation, strategic and competitive advantages, future opportunities and any other statements regarding events or developments that IAA believes or anticipates will or may occur in the future. We disclaim any obligation or undertaking to update any forward-looking statements. For further discussion of such risks and uncertainties, see “Information Statement Summary,” “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in the information statement filed as an exhibit to IAA’s Registration Statement on Form 10, as amended.