IAA Names Vance Johnston as Chief Financial Officer
Published April 22, 2019 - Written by IAA, Inc
WESTCHESTER, Ill. – April 22, 2019 – Insurance Auto Auctions, Inc. (IAA), a business unit of global vehicle remarketing and technology solutions provider, KAR Auction Services (NYSE: KAR), announces the appointment of Vance Johnston as chief financial officer. Johnston will report to John Kett, chief executive officer and president.
“We are excited to welcome Vance to the IAA team,” said John Kett, CEO and president of IAA. “Vance’s successful track record of leading strong finance teams and driving operational efficiency throughout organizations will support our strategy of delivering improved economic returns for our customers by decreasing cycle times and increasing efficiencies. In addition, we are making strategic investments to help fuel innovative approaches to our operations. Vance’s extensive financial and public company background combined with his corporate strategy and operational expertise will be significant assets to IAA as we move into our next phase of growth.”
With nearly 30 years of finance, accounting, corporate strategy and treasury experience, Johnston brings a diverse combination of high-growth and public company experience. Most recently, Johnston served as chief financial officer for SP Plus Corporation, a provider of professional parking, ground transportation, facility maintenance, security and event logistics services. At SP Plus, Johnston was responsible for the finance, accounting, treasury, investor relations, strategy, corporate development, IT and procurement functions.
Prior to SP Plus, Johnston was chief financial officer for Furniture Brands International and held various finance, corporate strategy and operational positions at leading companies, such as Miami Jewish Health Systems, Royal Caribbean International, Burger King and OfficeMax. He started his career at Ernst & Young in the firm’s audit division. Johnston earned his Bachelor of Science degree in business administration and management from the University of San Diego and his Master of Business Administration degree from the University of Chicago.
Johnston 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.