KAR Auction Services Announces New Board Members

December 26, 2013
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KAR Auction Services, Inc., a provider of used-vehicle auction services, announced the appointment of three new members to its board of directors: Stephen Smith, Donna Ecton, and Michael Kestner. Board positions took effect Dec. 16, 2013. KAR Auction Services, Inc. CEO Jim Hallett made the announcement.

"Smith, Ecton, and Kestner have extensive experience in finance, operations and corporate development in a wide variety of industries. Each has demonstrated an ability to develop and implement strategies to facilitate long-term growth," said Hallett. "The insight and perspective these three bring to the table will be an asset as we continue to grow KAR and its family of companies in 2014."

Smith has extensive sales and operations expertise, specializing in customer and commercial financial service businesses. Smith served as senior vice president-financial services and director of Torrance, Calif.-based American Honda Finance Corporation, where he worked from 1985 to 2012. His accomplishments there include: strong dealer satisfaction rankings in the top two consistently on National Automobile Dealers Association surveys and numerous J.D. Power awards for customer satisfaction. He also significantly grew the consumer finance business and commercial financing portfolio.

Ecton joins the board with more than 35 years of executive-level management experience, having spent the majority of her career serving as a change-making leader for a range of consumer and business brands. She is currently the chief executive officer and chairman of Paradise Valley, Ariz.-based EEI Inc., a management consulting firm serving clients in a variety of industries including business services and e-commerce. She is also on the board of directors for Houston-based CVR, GP LLC; Jacksonville, Fla.-based Body Central Corp.; and Portland, Ore.-based Knowledge Schools LLC.

Kestner is a financial executive with 16 years of experience as a chief financial officer of two international companies. He currently serves as partner of Cleveland-based FocusCFO, a regionally based consulting group providing CFO services to small and mid-size businesses. Prior to his work with FocusCFO, Kestner served as executive vice president, chief financial officer and director of Hilite International, Inc.; chief financial officer of Cleveland-based Sinter Metals, Inc.; vice president of Columbus, Ohio-based Banc One Capital Partners; a member of Cleveland-based Wolfensohn Ventures LP and senior audit manager for KPMG.

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