Auto Auction Services Corp., which is also known in the industry as AutoIMS, has named a new chief executive officer.
Replacing the retiring Mike Broe in this post is Venkat Krishnamoorthy, who was most recently the company’s chief operating officer.
Krishnamoorthy has been with AutoIMS since 2002.
“I’m delighted that the board has promoted Venkat. He embodies the values that have served AutoIMS so well over the years, valuing employees and clients so strongly,” Broe, who retired at the end of 2018, said in a news release. “The industry can share my confidence that AutoIMS is in great hands.”
Board member Warren Byrd of KAR Auction Services said in the release: “The KAR team congratulates Venkat on this well-deserved promotion. His deep knowledge about the company, the technology, and our industry positions Venkat perfectly to lead the next chapter of AASC.”
Steve Krupa of IAASC, also a board member, added, “As a member of the AASC board for the past six years, I have been impressed over and over by the leadership team at AutoIMS. Venkat has earned the trust of the entire AASC team and the board, and we know the company will thrive with his leadership.”
Before his time with AutoIMS, Krishnamoorthy was with the tech team at Delta Airlines.
“It is an immense honor and privilege to be asked to lead AASC. I have had the good fortune to work closely with and learn from two great leaders — Don Meadows and Mike Broe. We have an awesome team and great talent at AASC, and we are in the service of a niche industry,” Krishnamoorthy said.
“One of my immediate goals is to work in partnership with the AASC Board and AASC’s leadership team to make AASC the employer of choice, provider of choice and investment of choice for the remarketing industry. Mike Broe is leaving AASC in a strong position, and I look forward to leading our company and the remarketing industry into its next chapter.”