Mike Broe, the president and chief executive of Auto Auction Services Corp. and a longtime fixture in the remarketing business, will retire at the end of the year.
The company, typically referred to by the AutoIMS moniker, said Friday that Broe would retire on Dec. 31, with AutoIMS chief operating officer Venkat Krishnamoorthy leading the company during its transition period.
Broe has been with AutoIMS for five years, following 23 years with Manheim.
“I have enjoyed working with the incredible team at AutoIMS — truly one of the best teams I have had the pleasure to serve upon. AutoIMS is in good hands with a great future ahead of it. This felt like the right time for me to step aside. The leadership team at AutoIMS has it right: putting employees first, clients in a close second. It’s why I have only heard great things from our client base about the service that AutoIMS provides,” said Broe, who will work closely with Krishnamoorthy during the transition, in the news release
Added Krishnamoorthy, “Mike took over the mantle of AASC at a very difficult time in AASC’s history. Mike truly believed in supporting and encouraging the personal mission of every employee.
“AASC’s reputation matured and strengthened in the industry because of Mike’s efforts and leadership,” he said. “We have grown as a company while preserving our culture of service and being the ‘first call’ for our clients and partners during Mike’s tenure. AASC will miss him dearly, and we all wish him well in this next chapter.”
The company added in its news release that the, “remainder of the AutoIMS management team remains committed to the service of the remarketing industry, and ‘business as usual’ is anticipated during and after the transition.”
AutoIMS has been celebrating its 20th anniversary this year. With that in mind, Auto Remarketing group publisher Bill Zadeits connected with Broe and vice president of client experience Joe Miller for a podcast at March's Conference of Automotive Remarkerting in Las Vegas.
Their discussion can be found below.