New Adesa owner to shuffle senior management

January 16, 2007
Kar Holdings II said today it plans to place its own senior managers at Adesa Inc., the Carmel-based car auction the private fund is buying for $3.7 billion.

Chairman and CEO David Gartzke will be replaced by Brian Clingen. Clingen is an investor and board member of another auto auction Kar bought, Insurance Auto Auctions Inc., and has been a director and senior manager at companies owned by Kar investor Kelso & Co.

Jim Hallet, Adesa Corp. president and CEO from 1996 to 2003, is replacing Bradley Todd as head of whole car auctions.

Insurance Auto Auctions President and CEO Tom O’Brien will take the same positions at Adesa, overseeing salvage operations.

John Nordin, Insurance Auto Auctions vice president and chief information officer, will be executive vice president and chief information officer of Adesa. He replaces Adesa CIO Ron Beaver.
Kar representatives were not immediately available to say whether Gartzke, Todd or Beaver will remain with the company after the deal closes in May or June.
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