OPENLANE Appoints Brad Herring as New Chief Financial Officer Strengthening Executive Leadership

OPENLANE Welcomes Brad Herring as Chief Financial Officer

OPENLANE, Inc. (NYSE: KAR), known for its role in digital marketplaces for wholesale used vehicles, has officially announced the appointment of Brad Herring as its new Chief Financial Officer (CFO). This strategic move, effective May 27, 2025, marks a significant step in bolstering the company's financial leadership team. Herring will be responsible for overseeing all financial operations, reporting duties, and investor relations at OPENLANE, directly reporting to CEO Peter Kelly.

Peter Kelly, the company’s CEO, expressed confidence in Herring’s abilities, stating, "We remain committed to our vision to build the world's greatest digital marketplace for used vehicles. Brad has a long track record improving financial and operational performance while increasing visibility and strengthening rapport with investors. His growth-oriented mindset based on data and analytics will perfectly complement our culture of innovation and disciplined management."

Having amassed over 30 years of experience in financial management and investor relations, Herring brings a wealth of knowledge to the role. He previously served as CFO for several industry-leading digital firms, including Enfusion, a platform for hedge funds, and Shift4 Payments, a prominent player in the payment processing sector. Under his stewardship, these organizations witnessed notable improvements in financial performance and strategic growth.

Herring has also held significant financial leadership positions at Elavon, Fiserv's Digital Banking Group, Equifax, Delta Air Lines, and ING North America, demonstrating a comprehensive background in both financial operations and business development. His versatile experience places Herring in a strong position to advance OPENLANE’s strategic objectives and optimize its financial framework.

"I am very excited to be joining OPENLANE on its journey leading the digital transformation of buying and selling wholesale used vehicles," Herring remarked upon his appointment. His enthusiasm reflects an understanding of the challenges and opportunities present in the rapidly evolving marketplace, aiming to deliver value to both customers and shareholders.

In addition to his extensive work experience, Herring holds a Bachelor of Arts degree in Business Management and Economics and an MBA from the Georgia Institute of Technology, further establishing his credentials in the financial sector.

As OPENLANE continues its mission to enhance transparency and streamline transactions in the used vehicle marketplace, Herring’s leadership will be pivotal. His data-driven approach and collaborative spirit will be instrumental in reinforcing the company's growth strategies and ensuring robust financial health.

In conclusion, Brad Herring's appointment as CFO is not merely a hiring decision; it represents OPENLANE's commitment to innovation and excellence in financial management. The company looks forward to leveraging his expertise to not only meet but exceed the expectations of its customers and stakeholders alike. The path ahead is promising as OPENLANE gears up for its next chapter in the digital vehicle marketplace.

For more information on OPENLANE and its services, please visit corporate.openlane.com.

Media Inquiries:
Laurie Dippold
(317) 468-3900
jdippold@openlane.com

Analyst Inquiries:
Jared Harnish
(317) 249-4559
jharnish@openlane.com

OPENLANE, Inc. is headquartered in Carmel, Indiana, and operates a global network in the used vehicle market, facilitating seamless transactions through innovative technology solutions.