On November 1, 2022, KAR Auction Services, Inc. announced that Eric M. Loughmiller, the Company's Executive Vice President notified KAR Auction Services, Inc. of his intent to retire as the Company's Executive Vice President in January 2023. Once a successor has been identified and appointed, the Company currently expects Mr. Loughmiller to serve in an advisory role for a period of time following his retirement to ensure a smooth transition.