CARMEL, Ind. -

KAR Global chief client officer and longtime auction industry executive Tom Caruso plans to retire this month, the company announced Wednesday.

Caruso’s four decades in the auction business has included time as ADESA’s president and chief executive officer, its chief operating officer and president of the National Auto Auction Association, among other posts.

“Tom is a true legend, and his positive influence can be seen across every corner of our industry,” KAR chairman and CEO Jim Hallett said in a news release.

“Every handshake with Tom is a promise, and his hard work, dedication and never-quit attitude helped shape our company and our industry,” Hallett said. “He is a mentor to many, a friend to all and the shadow he casts will no doubt inspire the next generation of leaders.”

Caruso has been chief client officer of KAR since 2013, following his time as president and CEO of ADESA, a role he began in 2009. Caruso had also previously served as ADESA’s COO, following his time as executive vice president for the auction chain.

His auction industry career launched in 1980 when he became fleet manager at Concord Auto Auction, rising to general manager four years later. ADESA acquired the auction in 1992, renaming it ADESA Boston. 

A year later, Caruso served as the architect for an expansion of the auction into a new home: a 3-million-square-foot former General Motors facility. Led by Caruso, the auction would subsequently see “rapid growth,” KAR said.

So, ADESA reopened the original Concord Auto Auction location a few years later, as well, renaming it ADESA Concord. Caruso managed both locations, eventually adding a New Jersey and Long Island location to his duties, and soon moving up to a VP role. 

Caruso, who was NAAA’s president from 2005 to 2006, was inducted into the group’s Hall of Fame in 2012. That same year, he was also named to the National Independent Automobile Dealers Association Ring of Honor.

Caruso was previously a board member with the Massachusetts Independent Auto Dealers Association — where he was awarded the Lifetime Achievement Award in 2006 — and the National Vehicle Leasing Association.

As for retirement, Caruso has plans to be with family, grandchildren and enjoying classic cars, his favorite hobby.

“As I look back at all I’ve accomplished in my career, I’m proud to say I never did it alone,” Caruso said in a news release.

“I’ve been incredibly blessed and fortunate to work with so many great people over the years, from coworkers to customers to industry leaders and even our competitors,” he said. “I’m grateful to all of you for helping me succeed and for positively impacting my life both in and outside of work.”

More: A 2010 Auto Remarketing Profile Series story on Caruso can be found here.