KAR Auction Services, Inc Appoints Sanjeev Mehra to the Board
November 02, 2021 at 04:15 pm EDT
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On October 27, 2021, the Board of Directors of KAR Auction Services, Inc. increased the size of the Board to ten (10) directors and elected Sanjeev Mehra to the Board, effective immediately. Mr. Mehra will serve for a term expiring at the 2022 annual meeting of the Company?s stockholders and until his successor is duly elected and qualified. Mr. Mehra has served as Managing Partner of Periphas Capital, LP, since he founded the firm in 2017. Mr. Mehra has also served as Chief Executive Officer and a member of the Board of Directors of Periphas Capital Partnering Corporation, a special purpose acquisition company, since September 2020. Mr. Mehra was employed at Goldman, Sachs & Co. (?Goldman?) from 1986 to 2017, where he served as a Partner from 1998 to 2017. Mr. Mehra was a founding member of Goldman?s Principal Investment Area (?PIA?), the firm?s private investing arm of its Merchant Banking Division, and served on the PIA Investment Committee from 1998 to 2017. Mr. Mehra held a range of senior positions at Goldman, including vice chairman of the global private equity business, and prior to that, co-head of the Americas private equity business. Mr. Mehra has served on the board of directors of over 25 companies, including on the Board of the Company from 2007 until 2013.
OPENLANE, Inc. provides sellers and buyers across the global wholesale used vehicle industry with technology-driven remarketing solutions. It offers a digital marketplace for used vehicles, connecting sellers and buyers across North America and Europe. The Company's end-to-end platform supports whole car, financing, logistics and other ancillary and related services. The Companyâs segments include Marketplace and Finance. The Marketplace segment serves a domestic and international customer base through digital marketplaces for wholesale vehicles that allow the buyers to inspect and compare vehicles. Its marketplace offerings allow it to offer vehicles for sale from any location. Digital marketplace sales are initiated online and include OPENLANE US, OPENLANE Canada and OPENLANE Europe sales. The Finance segment provides short-term, inventory-secured financing, known as floorplan financing, primarily to independent dealer customers throughout the United States and Canada.
OPENLANE, INC. 
