OPENLANE, Inc. (KAR)

17.08 -0.06 (-0.35%) At close: 04:00PM EDT

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: 3,825

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 and President of Services & International Markets	602.18k	N/A	1971
Mr. James P. Coyle	Executive VP & President of North American Marketplaces	1.33M	N/A	1981
Mr. Brad S. Lakhia	Executive 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	Executive VP, Chief Legal Officer & Secretary	N/A	N/A	1972
Mr. Tobin P. Richer	Executive Vice President of Marketing & Communications	N/A	N/A	1974
Mr. Warren W. Byrd	Executive Vice President of Corporate Development & Real Estate	N/A	N/A	1963
Patrick Ming	Executive Sales Director	N/A	N/A	N/A

Amounts are as of December 31, 2022 and compensation values are for the last fiscal year ending on that date. Pay is 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 OPENLANE, a mobile-app enabled solutions that allows dealers to sell and source inventory in the United States. 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 commercial customers and dealer customers. 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 April 1, 2024 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 a 10 indicates higher governance risk.