ADESA president Hammer to leave company, will become CEO of Spectrum Automotive Holdings
Auto Remarketing has learned and parent company Carvana has confirmed that ADESA president John Hammer is leaving the company Friday.
Hammer has been named the CEO of Spectrum Automotive Holdings Corp., according to a news release from Spectrum, and will start Feb. 6.
“John’s dedication to his team and customers has been instrumental in building ADESA into an industry leader,” Carvana founder and CEO Ernie Garcia said in a statement. “He has made a significant contribution to Carvana and I thank him for his friendship and advice during the integration of our two companies.”
Mike Caggiano of ADESA U.S operations and Jay Bahel of ADESA strategy and analytics will co-lead the ADESA business unit.
Hammer succeeds Jim Polley at Spectrum Automotive Holdings. Polley will remain on the Spectrum board.
“We are excited to welcome John Hammer as CEO and expect him to have a tremendous impact on the continued progress we are making growing Spectrum's platform,” Polley said in a news release. “We expect this to be a smooth and successful transition.”
Hammer has been ADESA’s president since 2018, re-joining then-ADESA parent KAR Global after serving as CEO of U.S. Auto Sales from 2016-2018.
Hammer was president and chief operating officer of KAR’s Automotive Finance Corp. from 2009 to 2014, and was promoted to AFC CEO and president in 2014.
KAR sold its U.S. ADESA auctions to Carvana in 2022.