KAR Global on Tuesday said its president Peter Kelly, who has been with the company for 10 years, will take over as CEO on April 1.
He succeeds Jim Hallett, 67, who has been CEO of KAR since 2009.
Kelly joined KAR in 2011 when the company's auto-auction subsidiary, ADESA Inc., purchased Openlane, the Internet-based automotive remarketing company where he was CEO at the time. He also was a co-founder of Openlane.
"The prospect of leading KAR further into our digital future is humbling and exciting," Kelly said in a statement. "The used-vehicle industry is continuously evolving ... I remain committed to investing in people, data and technology to deliver great outcomes for our customers and achieve our business goals."
Kelly, 52, has a long history at KAR. The company credits him for ramping up startup technology to boost KAR's status as a private-label online auction platform.
He was promoted to KAR president in 2019, after stints as the company's chief technology officer in 2013 and president of its digital services group in 2014.
As president, he oversaw KAR business units, operations and brands plus the company's switch to all-digital in 2020.
Hallett will stay on with the company as executive chairman, according to a release. He will continue to advise the company on strategic, customer and investor-relations matters.
He called Kelly the "perfect choice" to lead the company. The two plan to "work closely" on a smooth transition over the next several months.
"Peter Kelly is a pioneer who helped ignite KAR's digital transformation almost a decade ago when he brought Openlane into our company," Hallett said in a statement. "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."