KAR Auction Services, Inc. announced that Mike Eliason has been named vice president of investor relations and treasurer.

Eliason, who most recently served as vice president of financial planning and analysis, will report directly to Eric Loughmiller, executive vice president and chief financial officer of KAR.

In this new role, Eliason will be responsible for directing the organization’s investor relations, budgeting, forecasting, investment of funds, and cash management activities. He will also continue to lead the company’s financial planning and analysis initiatives.

“With more than 20 years of finance industry experience, Mike has demonstrated a proven track record of savvy leadership and meaningful results,” said Loughmiller. “With his combination of experience and industry insight, Mike is an excellent leader for this role.”

Eliason joined the KAR group of companies in 2003 as a controller for ADESA Impact, and later was promoted to vice president of financial planning and analysis for KAR Auction Services. Prior to his time with KAR, Eliason served in a variety of business development and finance roles with ALLETE, ADESA’s former parent company, Enbridge and KPMG.