WESTCHESTER, Ill., August 31, 2015 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR) and the leading live and live-online salvage auto auction company today announced that Tim O’Day will join the company as Senior Vice President of Finance reporting to John Kett, Chief Executive Officer and President.

With almost thirty years of experience in finance, operations, and general management, O’Day has a combination of big company, start up and high growth business experience.  Most recently O’Day worked for nine years as COO and then CFO for MedSpeed, the leading 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, first in a management training program followed by various financial management positions in corporate and in the field. O’Day earned his Bachelor of Science degree in business from Indiana University.

“I am excited to work with Tim and further accelerate IAA’s strong momentum,” said John Kett, IAA’s chief executive officer and president.  “Tim’s broad background of financial success combined with his operational and logistics experience will be significant assets to the IAA organization as well as KAR Auction Services.  I look forward to him joining the executive team as we continue to grow and expand the IAA organization.”

Mr. O’Day will be based at the company’s headquarters in Westchester, Illinois.

Media Inquiries:

Jeanene O’Brien
SVP, Global Marketing and Communications
(708) 492-7328
jobrien@iaai.com


Analyst Inquiries:

Caitlin Churchill
ICR
(203) 682-8200
investors@iaai.com

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 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 while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.


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. 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 our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. 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: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; 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 and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual 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.