KAR - OPENLANE, Inc.
OPENLANE, Inc.
11299 North Illinois Street
Carmel, IN 46032
United States
800 923 3725
https://corporate.openlane.com
Sector(s): Consumer Cyclical
Industry: Auto & Truck Dealerships
Full-time employees: 3,960
Key executives
| Name | Title | Pay | Exercised | Year born |
|---|---|---|---|---|
| Mr. Peter J. Kelly | CEO & Director | 1.02M | N/A | 1969 |
| Mr. Sriram Subrahmanyam Ph.D. | EVP of Operations & Pres of KAR Services Group | 602.18k | N/A | 1970 |
| Mr. James P. Coyle | Exec. VP & Chief Digital Officer | 1.33M | N/A | 1981 |
| Mr. Brad S. Lakhia | Exec. VP & CFO | N/A | N/A | 1972 |
| Mr. Scott A. Anderson | Chief Accounting Officer | N/A | N/A | 1966 |
| Mr. Michael Eliason | VP of Investor Relations & Treasurer | N/A | N/A | N/A |
| Mr. Charles S. Coleman | Exec. VP, Chief Legal Officer & Sec. | N/A | N/A | 1972 |
| Mr. Tobin Richer | Sr. VP of Marketing & Communications | N/A | N/A | N/A |
| Mr. Warren W. Byrd | Exec. VP of Corp. Devel. & Real Estate | N/A | N/A | 1963 |
| Patrick Ming | Exec. Sales Director | N/A | N/A | N/A |
Description
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles. Its digital marketplaces include BacklotCars, a live auction format that allows dealers to sell and source inventory in a bidding environment in the United States; TradeRev, an online automotive remarketing platform in Canada, where dealers can sell and source used vehicle inventory at any time; ADESA U.K., an online wholesale used vehicle remarketing business in the United Kingdom; and ADESA Europe, an online wholesale vehicle marketplace in Continental Europe. This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers. The company serves vehicle manufacturers, vehicle rental companies, financial institutions, commercial fleets and fleet management companies, and franchised and independent used vehicle dealers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023. OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
Corporate governance
OPENLANE, Inc.’s ISS governance QualityScore as of 1 May 2023 is 6. The pillar scores are Audit: 8; Board: 2; Shareholder rights: 9; Compensation: 5.
