Jim Hallett, CEO of the Carmel-based KAR Auction Services, was honored this month as an Ernst & Young entrepreneur of the year, one of only 12 winners in the national program.
Hallett, who won in the “services” category, was honored at a gala in Palm Springs, California. Judges chose him from more than 250 regional award recipients selected over the summer.
E&Y honored Hallett for transforming a traditional auto auction company that used technology into a technology company that runs auctions and provides other services to the auto industry.
The company’s stock market value has more than doubled, to $4.8 billion, since its December 2009 initial public offering.
“His tenacity, entrepreneurial spirit and compassion toward those he works with has propelled Jim to incredible success and truly differentiates him from others,” Mike Kacsmar, program director for the awards, said in a prepared statement.