Following its recent spin-off from KAR Auction Services, Inc., IAA Inc. named the members of its board of directors.
John Larson, who was the lead independent director of KAR since June 2014, was named IAA chairman of the board.
IAA completed the spin-off in June; it was first announced in February 2018.
Eight individuals will serve on the IAA board of directors, and seven of those are independent. IAA said its board members offer strong experience in the automotive and insurance claims industries and bring international expertise as well as significant knowledge in areas such as finance, strategy, and human resources.
The eight board members are:
— Larson (chairman), who is former KAR director and chief executive officer of Bestop Inc., which manufactures soft tops and accessories for Jeep vehicles. He has held various senior executive roles at General Motors Co., including the Buick, Pontiac and GMC divisions, and as general director of remarketing.
— John Kett, chief executive officer and president of IAA.
— Brian Bales, executive vice president and chief development officer of Republic Services, a recycling and waste disposal services company.
— William (Bill) Breslin, founder and chief of Wenonah Consulting, a service, expense and loss management services company for claims operations across the insurance industry.
— Sue Gove, founder and president of retail consulting and advisory firm Excelsior Advisors LLC.
— Lynn Jolliffe, former director of KAR and chief executive officer of Jolliffe Solutions Inc., a human capital and talent management consulting company.
— Peter Kamin, founder and managing partner of 3K Limited Partnership. That private equity firm partners with management teams that are seeking capital to implement growth strategies for creating shareholder value.
— Olaf Kastner, former regional president and chief executive officer for China for the BMW Group.
Upon completion of the spin-off, Larson and Jolliffe resigned from the KAR board of directors.
“I look forward to working with such a diverse and talented group of individuals, helping to lead IAA into its next phase of growth as a public company,” Larson said.
“As an independent company, IAA is well positioned to leverage our strong global footprint, deep industry relationships and focus on technology and innovation to better serve our diverse base of global customers,” Kett said. “This board’s leadership will further enhance our competitive position in the marketplace and help drive long-term value for our shareholders.”