ADESA Announces New Leader of Product Development

Organizational Update Aimed at Developing and Delivering Industry-Leading Products and Services

ADESA, a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services, Inc. (NYSE: KAR), announces Kurt Madvig has been named vice president of product development. Madvig will lead a team focused on the development, launch and delivery of products, services and solutions that streamline and enhance the ADESA customer experience.

“Over the past 18 years at ADESA, Kurt has proven his exceptional skills as a leader and his expansive knowledge of our customer needs,” said Paul Lips, ADESA chief commercial officer. “Kurt has been instrumental in introducing innovation, integrating technology and streamlining processes at our auctions. Now, as leader of our product development team, Kurt will focus on creating best-in-class service and industry-leading solutions for our customers.”

Madvig brings 30 years of automotive remarketing industry experience to his new role. He joined the KAR organization as an auction general manager in 2001 to establish and develop ADESA Long Island. Soon after its launch he was transferred to ADESA San Diego, where he achieved double-digit revenue growth. Madvig continued to grow his career at ADESA, most recently serving as vice president of auction operations, where he played an integral part in the opening of ADESA’s state-of-the-art Chicago location. Madvig has been an active member of the National Auto Auction Association (NAAA) and currently serves as co-chairperson of the NAAA Standards Committee.

Joining the ADESA product development team under Madvig’s leadership are Eddie Ammar, Jason Murdock and Colleen McCormick-Shankle. Ammar, senior director of protection products, will oversee ADESA Assurance and the development of additional protection products. As director of inspection services, Murdock is responsible for ensuring thorough inspections as well as creating new inspection offerings. Senior project manager McCormick-Shankle will oversee new product launches and implementations.

ADESA is a leading provider of vehicle auction and remarketing services with 75 vehicle auctions throughout North America.

Kurt Madvig, newly named vice president of product development at ADESA

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