Carmel, Ind. — Jim Hallett, who served as ADESA’s president and chief executive officer for nearly 10 years, is coming back as president and chief executive officer of the country's second largest auto auction. Hallett, who was terminated nearly two years ago by a new management team, will assume his duties as president and CEO at closing.
An announcement of the new management team was made in a news release from the private equity group that is purchasing ADESA. The purchase announcement was made late last month and is expected to close in the first half of this year. Hallett confirmed that he is an investor in the new management team purchasing the company.
In addition to Hallett, the announcement named Brian Clingen, who has served as an investor and board member of Insurance Auto Auctions, as chairman of the combined company, and Tom O'Brien, who has served as president and CEO of IAAI, as president of IAAI, a salvage services company already owned by Kelso & Company. IAAI will be combined with ADESA's salvage services.
John Nordin, vice president and chief information officer of IAAI, will become executive vice president and chief information officer of the combined company.
Hallett was president of ADESA for about 10 years, but when the company was spun off from its parent ALLETE, he was soon terminated. Hallett then joined Columbus Fair Auto Auction, an independent auction, where he has served as president for the past two years.
"We are totally committed to a smooth and successful transition at the close of the transaction and to the continued success of the ADESA companies in the interim," David Gartzke, chairman and CEO of ADESA, said.