OPENLANE Names Brad Herring Chief Financial Officer

Rhea-AI Summary

OPENLANE (NYSE: KAR) has appointed Brad Herring as EVP and Chief Financial Officer, effective May 27, 2025. Herring brings over 30 years of experience in financial operations, investor relations, and business development to the digital marketplace for wholesale used vehicles.

Herring will lead all financial, reporting, and investor-facing functions, including capital investment strategy, reporting directly to CEO Peter Kelly. His previous experience includes CFO positions at notable companies like Enfusion (NYSE:ENFN), Shift4 Payments (NYSE:FOUR), and Elavon, along with leadership roles at Equifax, Delta Air Lines, and ING North America.

The appointment aligns with OPENLANE's vision to build the world's greatest digital marketplace for used vehicles, leveraging Herring's expertise in improving financial performance and strengthening investor relations.

Positive

• Appointment of seasoned CFO with over 30 years of financial management experience
• Strong background in digital companies (Enfusion, Shift4 Payments)
• Experience in improving financial and operational performance
• Expertise in investor relations and capital investment strategy

Negative

• None.

Bolsters Leadership Bench With More Than 30 Years of Financial Management and Investor Relations Expertise

CARMEL, Ind., April 22, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the company has named Brad Herring as EVP and Chief Financial Officer effective May 27, 2025. Herring will be responsible for leading all financial, reporting and investor-facing functions across OPENLANE, including the company's capital investment strategy. Herring also joins OPENLANE's executive team and will report to CEO Peter Kelly.

"We remain committed to our vision to build the world's greatest digital marketplace for used vehicles," said Peter Kelly, CEO of OPENLANE. "Brad has a long track record improving financial and operational performance while increasing visibility and strengthening rapport with investors — a great fit as OPENLANE extends our momentum. His growth-mindset grounded in data, analytics and collaboration will complement and reinforce our culture of bold innovation and disciplined financial management. Brad's stable leadership and diverse experiences are just what we need to advance our strategy while delivering the very best results for both our customers and our stockholders."

Herring brings more than 30 years of experience spanning financial operations, investor relations, financial planning and analysis, public company reporting and business development. Most recently, Herring spent more than a dozen years serving as CFO of digitally-forward companies including Enfusion (NYSE:ENFN), a SAAS provider for hedge funds and asset managers, and Shift4 Payments (NYSE:FOUR), a global leader in technology-led payment processing. Herring also was the CFO of Elavon, a global provider of merchant services and payment processing, and Fiserv's Digital Banking Group. Previously, he held roles of progressive financial leadership at Equifax, Delta Air Lines and ING North America.

"I am very excited to be joining OPENLANE on its journey leading the digital transformation of buying and selling wholesale used vehicles," said Brad Herring, incoming EVP and Chief Financial Officer. "With Peter's leadership and OPENLANE's team of skilled professionals, I have great confidence in the organization's ability to deliver continued growth and value to both customers and shareholders through the unique pairing of its market-leading technology solutions and highly scalable financial profile."

Herring holds a bachelor of arts degree in business management and economics and a master of business administration from the Georgia Institute of Technology.

OPENLANE Contacts:
Media Inquiries:	Analyst Inquiries:
Laurie Dippold	Jared Harnish
(317) 468-3900	(317) 249-4559
laurie.dippold@openlane.com	investor_relations@openlane.com

About OPENLANE

OPENLANE, Inc. (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. OPENLANE's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the globe. Headquartered in Carmel, Indiana, OPENLANE has employees across the United States, Canada, Europe, Uruguay and the Philippines. For more information and the latest OPENLANE news, visit corporate.openlane.com.

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SOURCE OPENLANE, Inc.

FAQ

When will Brad Herring start as CFO of OPENLANE (KAR)?

Brad Herring will begin his role as EVP and CFO of OPENLANE on May 27, 2025.

What are Brad Herring's responsibilities as OPENLANE's new CFO?

He will lead all financial, reporting and investor-facing functions, including the company's capital investment strategy, reporting to CEO Peter Kelly.

What is Brad Herring's professional background before joining OPENLANE (KAR)?

Herring has over 30 years of experience, serving as CFO at Enfusion, Shift4 Payments, and Elavon, with previous roles at Equifax, Delta Air Lines, and ING North America.

How does Brad Herring's appointment align with OPENLANE's business strategy?

His appointment supports OPENLANE's vision to build the world's greatest digital marketplace for used vehicles, bringing expertise in financial performance improvement and investor relations.