2011 ALL STAR | REMARKETING
CEO, KAR Auction Services Inc.
Hallett has shown that building an auction company is as much about clicks as it is about bricks and mortar. Amid a raging recession Hallett, 58, has increased ADESA's U.S. sites to 55 from 40 in 2007. In October he closed the deal on the purchase of Openlane Inc., a major competitor, for roughly $210 million. Openlane is a leading online auction company and is expected to generate $100 million in revenue and sell on consignment more than 300,000 used vehicles to dealers in 2011. Hallett said in October that the integration of the online platforms of ADESA and Openlane is expected to be completed in 15 to 18 months.