IAA, Inc. Announces New Partnership with the Department of Defense
Demonstrates commitment to increasing economic opportunity and mobility for military families
Published November 11, 2021
WESTCHESTER, IL – Nov. 11, 2021 – IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces that it has joined the Department of Defense Military Spouse Employment Partnership (“MSEP”). In late October, IAA attended a virtual ceremony to be inducted along with 45 other new partners to MSEP – bringing the number of employers to 544.
MSEP connects military spouses with hundreds of partner employers who commit to recruit, hire, promote and retain military spouses. Since its inception in 2011, MSEP employers have hired more than 200,000 military spouses.
When it launched, MSEP was part of the White House’s “Joining Forces” initiative. The MSEP continues to be a key element of the Joining Forces initiative to increase economic opportunity and mobility for military families. The induction ceremony featured Dr. Jill Biden, First Lady of the United States, who provided some welcome remarks.
“It was a pleasure to accept the MSEP Statement of Support certificate on behalf of IAA,” said Bill Davidson, Senior Vice President and Global Head of Human Resources, and United States Marine Corps veteran. “IAA’s partnership with MSEP strongly aligns with our goals to continually drive a culture of diversity, inclusion and equity. We look forward to continuing to create work environments that foster equal access to professional growth and advancement opportunities for military families.”
IAA is committed to cultivating a workplace where different perspectives and experiences are welcomed and respected. Earlier this year, the company announced that IAA CEO and President John Kett signed the CEO Action for Diversity and Inclusion™ pledge, which introduced the IAA Diversity, Equity and Inclusion Council. The council continues to engage members across the global IAA team to focus on three key areas: cultural awareness and inclusion, pay equity, and industry partnership.
About Spouse Education and Career Opportunities
The MSEP initiative is part of the Department of Defense’s broader Spouse Education and Career Opportunities (“SECO”) program. The Department established the SECO program to provide education and career guidance to military spouses worldwide, offering free, comprehensive resources and tools related to career exploration, education, training and licensing, employment readiness and career connections. This program also offers free career coaching services six days a week.
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 platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,500 employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, 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. For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn.
Certain statements contained in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made in this release that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions identify forward- looking statements. Such statements include statements regarding the expected timing and associated benefits with respect to IAA’s participation in the Military Spouse Employment Partnership, and related programs and platforms discussed in this release, on our business and plans regarding our growth strategies and margin expansion plan, and to our customers and company generally. 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, but are not limited to: uncertainties regarding ongoing surges of COVID-19 infections, including new more contagious and/or vaccine resistant variants, and the impact on the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread, including the availability, rate of public acceptance and efficacy of COVID-19 vaccines; the loss of one or more significant vehicle 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 plan; business development activities, including acquisitions and the integration of acquired businesses, and the risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; risks related to the failure to obtain regulatory approvals related to the acquisition of SYNETIQ Ltd.; 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 Item 1A “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on February 22, 2021, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements in this release are made as of the date on which they are made and we do not undertake to update our forward-looking statements.
Jeanene O’Brien | IAA, Inc.
SVP, Global Marketing and Communications
Arif Ahmed | IAA, Inc.
Caitlin Churchill | ICR
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