Auto auction board hikes own pay: Adesa Inc. also sent executive packing with full-sized severance

Vehicle auction giant Adesa Inc., which already pays one of the richest sums to its directors of any local company, has jacked up its annual board retainer 50 percent. Meanwhile, the Carmel-based company also has disclosed details of a severance package it paid to Executive Vice President James P. Hallett worth more than $1.3 million, not including the value of his stock options. Both events were disclosed in documents filed recently with the Securities and Exchange Commission. The eight-person board...

 

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