OPENLANE Names President; Hits Record Sales in March, 1Q
REDWOOD CITY, Calif. — Roughly seven months after announcing that Clive Kinross would be stepping down from his post as president of the company, OPENLANE officially named his replacement.
Appointed on Tuesday as president, effective immediately, was Peter Kelly, the company's chief financial officer and one of its founders.
Kelly will remain CFO, as well as taking on the new position as president.
"As we accelerate our strategic initiatives and growth, Peter's hands-on leadership and guidance will be instrumental to expand our vehicle diversification and supply segments in servicing our customers," said Daniel Farrar, OPENLANE's chief executive officer.
"Peter's customer orientation and commitment to provide the best experience possible will continue to put our valued customers at the forefront of every OPENLANE decision," Farrar stated.
In addition to his CFO duties, Kelly's duties include heading up the strategic implementation and operational development of OPENLANE'S institutional and transportation business segments, in addition to helping to continue the company's momentum in new market segments.
"It has been extremely rewarding to be part of the OPENLANE team. When we started the company, the concept of an online wholesale auto auction was new and unproven," Kelly commented. "In partnership with our selling and dealer customers, OPENLANE executed on its vision of an online model to not only be viable, but successful."
He added: "Today, we continue our excellent growth and are grateful to all of our customers for the trust they place in us. I am proud to be part of a winning team.
"I am thrilled and honored to take the role of president of OPENLANE, working with Daniel and the executive team, and look forward to cultivating new opportunities on behalf of our customers and continuing on our path of innovation and leadership," Kelly continued.
As reported by Auto Remarketing in September, the company had announced that Kinross would be leaving his position as president at the end of September, but that he would stay on with OPENLANE through the middle of 2010 to help facilitate a more seamless transition.
Company Enjoys Sales Records
In other news from OPENLANE, the company highlighted several new sales records.
OPENLANE said it had its best sales month on record during March, reaching 38,671 vehicles sold. The previous record was June 2009, when there were 37,488 units sold via OPENLANE.
The strong sales month also apparently helped to push the company to a record first quarter, as well, according to officials.
The company also reported record monthly sales for its Canadian, U.S. Open Auction and iDEAL Seller Programs.
Moreover, the CarsArrive transportation subsidiary enjoyed a record month for the number of units it transported throughout the continent.
This success builds on the record-breaking 2009 that saw approximately 400,000 units moved, officials boasted.
"We had great velocity on new programs in 2009 and continue movement in 2010 on offerings that benefit the dealer community, including partnerships with Carfax, the American Recovery Association, Volkswagen Credit and Ford Credit," Farrar suggested.
"OPENLANE has tremendous momentum that continues to redefine industry practices," he added. "Our performance demonstrates the excellent growth we are experiencing."