CARMEL, Ind. - OPENLANE, Inc. (NYSE: KAR), a key player in the digital marketplaces for wholesale used vehicles, has announced the appointment of Will Mitchell as the new president of its subsidiary Automotive Finance Corporation (AFC). Starting April 1, 2024, Mitchell will take charge of AFC's overall vision and strategy, as well as its operations encompassing business development, sales, and field and commercial operations.
Mitchell, who has been with AFC for over eight years, will join OPENLANE's executive leadership team, reporting directly to CEO Peter Kelly. His promotion follows a successful tenure as chief operating officer since 2021, during which AFC saw growth in market share and the launch of innovative financing solutions for independent dealers. Mitchell's experience also includes a significant background in business development and strategy across various industries, as well as an eight-year service in the Army National Guard.
CEO Peter Kelly commended Mitchell's proven leadership abilities and his comprehensive understanding of the company's operations. Kelly expressed confidence in Mitchell's capability to lead AFC forward, citing his established track record in delivering results and fostering strong customer and employee relationships.
Mitchell expressed his enthusiasm for the new role and his commitment to continuing AFC's legacy of industry-leading services and products. He will succeed Jim Money, the outgoing president, whose retirement plans were previously announced in December.
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