CARMEL, IN – ADESA has promoted Tom Kontos and Paul Lips to executive vice presidents of the company’s used-vehicle operations and will report directly to ADESA President and CEO Jim Hallett. Kontos will assume the role of EVP of customer strategies and analytics and Lips will serve as EVP of operations and finance.
“Tom is one of the most recognized and well respected individuals in the remarketing industry,” said Hallett. “Many of our customers and industry leaders rely on Tom as a trusted business advisor through his in-depth analyses, reports, and strategy discussions. He will continue to deliver these services and products for both our used-vehicle and salvage businesses, as well as playing a more integral role in developing remarketing strategies with our customers, including the large dealer groups.
“Paul has been a key contributor in many facets of our business, acting as a liaison between corporate and our field operations and finance functions during the past 10 years,” said Hallett. “He will continue to focus on improving our commitment to service in these areas as well as remaining involved with the industry and our customers.”
Prior to joining ADESA, Kontos helped launch and was the principal author of five editions of the ADT Automotive Used Car Market Report. His 20-plus years of experience in market research, financial analysis, and strategic planning also include experience with W.R. Grace & Co., Vulcan Materials Company, and Rogers Group, Inc.
Lips began his career at ADESA in 1996 and shortly thereafter assumed the role of corporate controller for the used-vehicle auction company, focusing on the transition of individual auctions into the chain and implementing standard financial policies and best practices company-wide. As ADESA continued to grow through acquisition and expansion, he was promoted to chief financial officer. When ADESA transitioned to a public company in 2004, he became vice president of Investor Relations for ADESA, Inc., and then rejoined the used-vehicle operations team in 2005 as senior vice president of operations.Prior to joining ADESA, Lips spent more than six years in public accounting serving a variety of small business clients.