Peter Kelly has been tapped as the new Chief Executive Officer at KAR Global, officially taking the helm on April 1, 2021.
The current CEO since 2009, Jim Hallett, will become Executive Chairman of KAR Global and continue to advise the company on matters related to strategic and customer and investor relations. He will also continue to serve as Chairman of the KAR Global Board of Directors and Kelly will be named the new director starting April 1.
“Peter Kelly is a pioneer who helped ignite KAR’s digital transformation almost a decade ago when he brought OPENLANE into our company,” said Hallett. “Over the past several years, we’ve partnered closely to sharpen our strategy, evolve KAR’s operating model and extend the company’s leadership position in digital used vehicle marketplaces.”
Hallett describes Kelly as a bold and decisive leader, with a track record of building high-performing teams. He also said Kelly’s entrepreneurial mindset makes him the perfect choice for the company’s future. “I’m confident his leadership of our company and industry will continue to deliver meaningful value to our customers and our stockholders,” said Hallett.
Kelly joined the company back in 2011, through the company’s acquisition of OPENLANE. At the time, he served as co-founder, president and CEO. He became chief technology officer of KAR in 2013, was named president of KAR’s digital services group in 2014, and was promoted to KAR president in 2019. In the latter role, Kelly was responsible for all KAR business units, operations and brands.
He also oversaw the company’s shift to 100 per cent digital in 2020, and most recently led the KAR’s acquisition of BacklotCars — a dealer-to-dealer platform in the United States.
“The prospect of leading KAR further into our digital future is humbling and exciting,” said Kelly. “The used vehicle industry is continuously evolving, creating new opportunities for growth and expansion in North America and internationally. Our combination of digital capabilities and physical infrastructure is unmatched in the industry and positions us well to capture these opportunities.”
Hallett and Kelly will work closely together over the coming months to ensure a seamless transition
