IAA Names Tim O’Day Chief Operating Officer
Published February 15, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill., Feb. 15, 2017 — Insurance Auto Auctions, Inc. (IAA), today announced that Tim O’Day has been named the company’s chief operating officer, reporting to IAA CEO and President, John Kett. IAA is a leading provider of vehicle liquidation, logistics, title processing, and inventory sourcing for damaged and lower value vehicles. IAA is a business unit of KAR Auction Services (NYSE: KAR), a global remarketing and technology services provider with 310 operating locations across the U.S., Canada, Mexico, and United Kingdom.
“Tim has strong strategy and management expertise and a proven track record of driving customer value through effective and efficient operations,” stated John Kett, CEO and president. “His financial background blended with his analytic and leadership skills will benefit IAA, our customers, and the entire KAR platform.”
O’Day will be responsible for managing the full scope of IAA’s operations across the company’s 173 North American auction locations which last year hosted more than 9,000 auctions. In addition, O’Day will head the transportation and logistics teams, client delivery team, and the company’s nationally recognized catastrophe (CAT) team.
O’Day joined IAA in September of 2015, as senior vice president of finance. Prior to IAA, he worked as COO and CFO for MedSpeed, a 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. O’Day earned his Bachelor of Science degree in business from Indiana University.
As part of this appointment, IAA made additional key leadership announcements that will further focus the company’s efforts in technology, operations, and market development. The newly formed management team is well positioned to drive IAA’s strategy and innovation forward.
Sidney Kerley has been promoted to Senior Vice President and General Counsel and will continue to lead the legal team and assume responsibility for both Industry Relations and Customer Quality Assurance.
Jeanene O’Brien has been promoted to Senior Vice President of Global Marketing and will continue to oversee Global Marketing as well as assume responsibility for the newly created Buyer Development function.
John Krupnik has been promoted to Senior Vice President and Chief Technology Officer and will continue to oversee Business Technology as well as assume responsibility for the newly created Product Development function.
Terry Daniels, Managing Director of Impact, will expand his responsibility to include both Canada and Global Market Development.
Eldon Booth has been promoted to lead all U.S. field operations as Senior Vice President of Field Operations
Kerley, O’Brien, Krupnik and Daniels will all report directly to John Kett, CEO and president. Booth will report to Tim O’Day, COO.
For four decades, IAA has been dedicated to meeting and exceeding the needs of its global clients and giving back to the communities in which it operates. This philosophy of giving provides IAA’s more than 2,800 team members with opportunities to volunteer, mentor and financially support multiple global, national, and local charitable causes. This commitment also is reflected in IAA’s National Vehicle Donation division which, since 1994, has assisted not-for-profit organizations monetize donated vehicles to fund and support their missions.
Left to right: Tim O’Day, Sidney Kerley, Jeanene O’Brien, John Krupnik, Terry Daniels
SVP, Global Marketing and Communications
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.
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.
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