KAR Auction Services has appointed Paul Lips to the newly created position of chief commercial officer or ADESA, while Srisu Subrahmanyam will transition from his position at KAR and join ADESA senior management as its chief operating officer.
In his new role Lips will be responsible for simplifying ADESA’s customer experience and coordinating business development efforts with the marketing, sales and client relationship teams, the company noted.
Lips has been with ADESA since 1996 and has held various leadership positions. Most recently he served as chief operating officer, but has also served as EVP of operations and finance; chief financial officer, VP of investor relations and planning; and SVP of operations.
Subrahmanyam will assume the post of COO that Lips will be leaving. In this role, he will lead the strategic growth and development of the U.S. auction operations group.
Previously, Subrahmanyam served as SVP of business transformation for KAR where he was responsible for overseeing organizational optimization, according to ADESA.
Together, the two executives will lead ADESA’s continued efforts to integrate new technology into the company’s online and physical auction marketplaces as well as expand the company’s products and services, according to the company.
The two executives will report to John Hammer, the newly appointed president of ADESA.