IAA Names Tim O’Day Chief Operating Officer
Published February 15, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill., Feb. 15, 2017 — Insurance Auto Auctions, Inc. (IAA), today announced that Tim O’Day has been named the company’s chief operating officer, reporting to IAA CEO and President, John Kett. IAA is a leading provider of vehicle liquidation, logistics, title processing, and inventory sourcing for damaged and lower value vehicles. IAA is a business unit of KAR Auction Services (NYSE: KAR), a global remarketing and technology services provider with 310 operating locations across the U.S., Canada, Mexico, and United Kingdom.
“Tim has strong strategy and management expertise and a proven track record of driving customer value through effective and efficient operations,” stated John Kett, CEO and president. “His financial background blended with his analytic and leadership skills will benefit IAA, our customers, and the entire KAR platform.”
O’Day will be responsible for managing the full scope of IAA’s operations across the company’s 173 North American auction locations which last year hosted more than 9,000 auctions. In addition, O’Day will head the transportation and logistics teams, client delivery team, and the company’s nationally recognized catastrophe (CAT) team.
O’Day joined IAA in September of 2015, as senior vice president of finance. Prior to IAA, he worked as COO and CFO for MedSpeed, a 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. O’Day earned his Bachelor of Science degree in business from Indiana University.
As part of this appointment, IAA made additional key leadership announcements that will further focus the company’s efforts in technology, operations, and market development. The newly formed management team is well positioned to drive IAA’s strategy and innovation forward.
Sidney Kerley has been promoted to Senior Vice President and General Counsel and will continue to lead the legal team and assume responsibility for both Industry Relations and Customer Quality Assurance.
Jeanene O’Brien has been promoted to Senior Vice President of Global Marketing and will continue to oversee Global Marketing as well as assume responsibility for the newly created Buyer Development function.
John Krupnik has been promoted to Senior Vice President and Chief Technology Officer and will continue to oversee Business Technology as well as assume responsibility for the newly created Product Development function.
Terry Daniels, Managing Director of Impact, will expand his responsibility to include both Canada and Global Market Development.
Eldon Booth has been promoted to lead all U.S. field operations as Senior Vice President of Field Operations
Kerley, O’Brien, Krupnik and Daniels will all report directly to John Kett, CEO and president. Booth will report to Tim O’Day, COO.
For four decades, IAA has been dedicated to meeting and exceeding the needs of its global clients and giving back to the communities in which it operates. This philosophy of giving provides IAA’s more than 2,800 team members with opportunities to volunteer, mentor and financially support multiple global, national, and local charitable causes. This commitment also is reflected in IAA’s National Vehicle Donation division which, since 1994, has assisted not-for-profit organizations monetize donated vehicles to fund and support their missions.
Left to right: Tim O’Day, Sidney Kerley, Jeanene O’Brien, John Krupnik, Terry Daniels
SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to innovative vehicle merchandising, efficient evaluation services and digital bidding tools, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits of CSAToday, and the related services, products and platforms discussed in this release. Such statements are based on management’s current expectations, 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. These risks and uncertainties include: uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on our business and the economy generally; the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020. Additional information regarding risks and uncertainties will also be contained in subsequent annual and quarterly reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.
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