KAR Auction Services, Inc. announced the retirement of the Company's Executive Vice President, Eric M. Loughmiller, who retired effective December 31, 2022. On December 30, 2022, the Company's Board of Directors appointed Scott A. Anderson to serve as the Company's principal financial officer, effective January 1, 2023. Mr. Anderson will continue to serve as the Company's Chief Accounting Officer and principal accounting officer.

Mr. Anderson, age 56, has been Chief Accounting Officer of the Company since March 1, 2021. Previously, Mr. Anderson served as Vice President and Controller of the Company from 2007 to February 2021, and as Controller of ADESA, Inc. from 2001 to 2007. Prior to joining the Company, Mr. Anderson served as senior manager of assurance and business advisory services at PricewaterhouseCoopers LLP from 1997 to 2001, and held various positions at PricewaterhouseCoopers LLP from 1988 to 1997.