For the second time this month, OPENLANE made an announcement involving an executive’s retirement.

The one to surface on Tuesday involved Mike Eliason, the company’s treasurer and vice president of investor relations. OPENLANE said Eliason is retiring after more than 25 years at the company, effective June 1.

According to a news release, Eliason will continue to serve in his position until a successor is named to ensure a seamless transition.

OPENLANE said it will conduct a thorough national search process for Eliason’s successor.

Upon Eliason’s retirement, OPENLANE indicated EVP and chief financial officer Brad Lakhia will assume the role of treasurer.

“Mike has been a valued member of the OPENLANE team for 25 years and has led our investor relations program for the last seven years, playing a key role in communicating about our company’s growth and transformation to our customers, business partners and stockholders,” Lakhia said in the news release. “I want to thank Mike for his leadership and congratulate him on his well-deserved retirement.

“After successfully executing on a number of transformative initiatives in 2023, including delivering meaningful improvement in our marketplace segment results, this is an ideal time to evaluate a diverse array of investor relations leaders who can help OPENLANE deliver on its purpose to make wholesale easy for our customers,” Lakhia said.

Earlier in February, OPENLANE announced Will Mitchell, who has served the past three years as AFC’s chief operating officer, has been promoted to the floorplan financing provider’s president.

Mitchell will assume that role effective April 1, succeeding Jim Money, who announced his plan to retire in December.