Auto Auction Services Corp. has announced that its president and CEO, Mike Broe, will retire on Dec. 31, according to a company announcement.

Venkat Krishnamoorthy, current chief operating officer of AutoIMS, will work closely with Broe to lead the company during this transition, the company added.

Broe served at AutoIMS for five years. During his tenure, he was able to help streamline AutoIMS revenue lines, promote company involvement in various industry committees, advance important technology and processes, and grow annual revenue nearly 100%.

"AutoIMS is in good hands with a great future ahead of it," Broe said. "This felt like the right time for me to step aside. The leadership team at AutoIMS has it right: putting employees first, clients in a close second. It’s why I have only heard great things from our client base about the service that AutoIMS provides."

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