KAR Auction Services, Inc. appointed Brad S. Lakhia as Executive Vice President of the Company, effective immediately. In connection with his appointment as Chief Financial Officer, Mr. Lakhia will assume the role of the Company's principal financial officer. Mr. Lakhia succeeds Scott A. Anderson, who served as interim Chief Financial Officer from January 1, 2023 through April 16, 2023.

Mr. Anderson will continue to serve as the Company's Chief Accounting Officer and principal accounting officer. Prior to joining the Company, Mr. Lakhia, age 50, served as Vice President Finance, Americas of The Goodyear Tire & Rubber Company (“Goodyear”) from November 2019 to April 2023. Mr. Lakhia was Vice President, Business Planning & Analysis of Andeavor (formerly Tesoro Corp.) from September 2016 to October 2018 and Vice President, Treasurer and Credit of Andeavor from February 2014 to September 2016.

Prior to joining Andeavor, Mr. Lakhia served in accounting, treasury and divisional finance roles with increasing responsibility at Goodyear from October 1996 to February 2014.