KAR names new chief financial officer
KAR Global said Monday it has named a new executive vice president and chief financial officer.
Hired for the role is Brad Lakhia, who was most recently vice president of finance for the Americas at The Goodyear Tire and Rubber Company.
Lakhia joins KAR’s executive committee and reports to CEO Peter Kelly.
Former CFO Eric Loughmiller announced his retirement late last year.
“We are committed to delivering the very best possible results for both our customers and our stockholders,” Kelly said in a news release. “Brad is a skilled financial operator who thrives in a data-rich environment — a great fit and advantage as KAR extends our leadership as a digital marketplace company.
“He’ll bring a bold, strategic voice to our management team while deepening our culture of collaboration and accountability to further drive performance,” he said. “And his diverse expertise and experiences will help inform and advance our investment priorities and strategy as we continue to simplify our business.”
Lakhia added: ““I’m delighted to join KAR at such a momentous time in the company’s transformation, and deeply admire the company’s clarity of vision and purpose.
“KAR has an unbeatable combination of strategy, products and offerings, and is well-positioned to create and capture new opportunities. I look forward to working with the team to further accelerate growth and enhance value for both our customers and stockholders.”