0001395942-13-000075.txt : 20131122 0001395942-13-000075.hdr.sgml : 20131122 20131121190809 ACCESSION NUMBER: 0001395942-13-000075 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20131121 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131122 DATE AS OF CHANGE: 20131121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KAR Auction Services, Inc. CENTRAL INDEX KEY: 0001395942 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 208744739 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34568 FILM NUMBER: 131236480 BUSINESS ADDRESS: STREET 1: 13085 HAMILTON CROSSING BOULEVARD CITY: CARMEL STATE: IN ZIP: 46032 BUSINESS PHONE: (800) 923-3725 MAIL ADDRESS: STREET 1: 13085 HAMILTON CROSSING BOULEVARD CITY: CARMEL STATE: IN ZIP: 46032 FORMER COMPANY: FORMER CONFORMED NAME: KAR Holdings, Inc. DATE OF NAME CHANGE: 20070409 8-K 1 form8k.htm 8-K 8-K__St. Hilaire__Caruso


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 22, 2013 (November 21, 2013)



KAR Auction Services, Inc.
(Exact name of Registrant as specified in its charter)

Delaware
(State of Incorporation)
 
001-34568
(Commission File Number)
 
20-8744739
(I.R.S. Employer Identification No.)

       
13085 Hamilton Crossing Boulevard
Carmel, Indiana 46032
(Address of principal executive offices)
(Zip Code)

(800) 923-3725
(Registrant’s telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
   
On November 21, 2013, KAR Auction Services, Inc. (the “Company”) issued a press release announcing the appointment of Stephane St. Hilaire as Chief Executive Officer and President of ADESA, Inc. ("ADESA"), replacing Tom Caruso who will be appointed the Chief Client Officer of the Company. These changes will be effective on January 6, 2014.

Mr. St. Hilaire, age 44, has been involved with ADESA in various roles for the last 15 years. Mr. St. Hilaire has previously served in the following positions:

President and Chief Operating Officer of ADESA Auctions Canada Corporation ("ADESA Canada") from September 2009 to present;
Regional Vice President, Eastern Canada and General Manager of ADESA Montreal from September 1999 to September 2009; and
Chief Financial Officer of ADESA Canada from March 1998 to September 1999.
The press release issued by the Company on November 21, 2013 announcing the foregoing events is furnished with this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. 

Exhibit Number
 
Description of Document
99.1
 
Press Release, Dated November 21, 2013











SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


Dated: November 21, 2013
 
KAR Auction Services, Inc.
 
 
 
 
 
 
 
 
/s/ Rebecca C. Polak
 
 
Rebecca C. Polak
 
 
Executive Vice President, General Counsel and Secretary
 
 
 
 
 
 
 
 
 
 
 
 

























EX-99.1 2 exhibit991.htm EXHIBIT Exhibit 99.1



Exhibit 99.1

For Immediate Release
Eric Loughmiller
Executive Vice President and Chief Financial Officer
(317) 249-4254
eric.loughmiller@karauctionservices.com

KAR Auction Services Announces Executive Appointments

Carmel, IN – November 21, 2013 – KAR Auction Services, Inc. (NYSE: KAR) announced today that on January 6, 2014, Stephane St. Hilaire will be appointed the president and Chief Executive Officer of ADESA, Inc., the company’s wholesale used vehicle auction, and Tom Caruso will be appointed the Chief Client Officer of KAR.

St. Hilaire currently serves as the president and chief operating officer of ADESA Canada. He has worked for ADESA Canada for 15 years in positions of increasing responsibility, including the general manager of ADESA Montreal, one of ADESA’s largest auctions. In his new role, St. Hilaire will oversee the entire operation of ADESA and will report directly to Jim Hallett, chief executive officer of KAR.

“Stephane has been an exceptional leader and a driving force in building ADESA Canada. He has a vision for the increasing use of technology in the wholecar business and has been integral in the implementation of state-of-the-art information technology solutions which were incubated and piloted by ADESA Canada. Stephane is extremely knowledgeable about ADESA’s operations, customers, products and employees, and is ready to assume the role as chief executive officer and president of ADESA,” said Hallett.

In Caruso’s new role as chief client officer, he will continue to strengthen ADESA’s relationships with its customers, but also will further integrate our service offerings to customers across all of our business units. Caruso will continue to report directly to Hallett.

"Tom has been instrumental in helping navigate one of the most difficult periods ever experienced in the auto industry through his leadership and strong customer development skills. This new appointment will allow Tom to directly focus on providing a total end-to-end remarketing solution to our wholesale used vehicle auction, salvage vehicle auction and floorplan financing customers," said Hallett.


About KAR Auction Services

KAR Auction Services, Inc. is the holding company for ADESA, Inc. (“ADESA”), Insurance Auto Auctions, Inc. (“IAA”) and Automotive Finance Corporation (“AFC”). ADESA is a leading provider of wholesale used vehicle auctions with 65 North American locations and




its subsidiary OPENLANE provides a leading Internet automotive auction platform. IAA is a leading salvage vehicle auction company with 164 sites across the United States and Canada. AFC is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 105 sites across the United States and Canada. Together, the Company provides a unique, comprehensive, end-to-end solution for its customers’ remarketing needs.


# # #