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OPENLANE, Inc. (KAR)

NYSE - NYSE Delayed Price. Currency in USD
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14.79-0.18 (-1.20%)
At close: 04:00PM EST
14.80 +0.01 (+0.07%)
Pre-market: 07:00AM EST

OPENLANE, Inc.

11299 North Illinois Street
Carmel, IN 46032
United States
800 923 3725
https://corporate.openlane.com

Sector(s)Consumer Cyclical
IndustryAuto & Truck Dealerships
Full-time employees3,960

Key executives

NameTitlePayExercisedYear born
Mr. Peter J. KellyCEO & Director1.02MN/A1969
Mr. Sriram Subrahmanyam Ph.D.EVP of Operations and President of Services & International Markets602.18kN/A1970
Mr. James P. CoyleExecutive VP & President of North American Marketplaces1.33MN/A1981
Mr. Brad S. LakhiaExecutive VP & CFON/AN/A1972
Mr. Scott A. AndersonChief Accounting OfficerN/AN/A1966
Mr. Michael EliasonVP of Investor Relations & TreasurerN/AN/AN/A
Mr. Charles S. ColemanExecutive VP, Chief Legal Officer & SecretaryN/AN/A1972
Mr. Tobin RicherSenior Vice President of Marketing & CommunicationsN/AN/AN/A
Mr. Warren W. ByrdExecutive Vice President of Corporate Development & Real EstateN/AN/A1963
Patrick MingExecutive Sales DirectorN/AN/AN/A
Amounts are as of 31 December 2022, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

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 December 2023 is 7. The pillar scores are Audit: 10; Board: 3; Shareholder rights: 9; Compensation: 5.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.