HOUSTON, TEXAS – SalvageSale, Inc., an online auction marketplace and services provider for the insurance industry and corporate end-of-life assets, has promoted two employees.

Jim Reilly, executive vice president and COO, has been promoted to president and COO of SalvageSale. Having held many key operational and sales positions since joining the company in early 2000, Reilly will be responsible for guiding the company’s continued expansion of all lines of global property and casualty insurance markets. With this promotion, Reilly will be responsible for the U.S. insurance business and salvor services operations and the recently established UK subsidiary, SalvageSale Limited, which services the company’s UK, European, and Asian-based insurance business.

Chad Farrell, currently vice president of Sales Operations, has been promoted to the newly created position of senior vice president of Strategy and Operations. Farrell will continue to oversee all global sales operations and will assume the additional responsibilities of managing strategic alliance partnerships and evaluating acquisition opportunities. Farrell will continue to leverage his background in oil and gas to grow CapitalAssetSale, the division of the company dedicated to end-of-life and surplus corporate assets.

Reilly has more than 20 years of operations and sales management experience. Prior to joining SalvageSale in 2000, he held senior technical, operations, and sales management positions for an energy-focused industrial services firm, overseeing nine business groups with more than $500 million in annual revenue. Reilly has extensive experience integrating operations, building large sales teams as well as managing business operations. He was one of the leading architects of SalvageSale’s online auction process and integrated salvor services offering, which is custom designed to meet the growing needs of global commercial property and casualty companies. He has managed numerous client losses in all parts of the world, including well known catastrophic events such as Hurricanes Katrina, Rita, and the four devastating Florida hurricanes in 2004.

Farrell has nearly 20 years experience in operations, technology, and the management of growth companies. Prior to joining SalvageSale, he was the chief operating officer of a Houston-based, U.S.-focused online energy equipment auction company, where he was involved in the turnaround of the company and a key architect of their current business model. Since joining SalvageSale, Farrell has reengineered SalvageSale’s sales operations process and has managed online auctions of all lines of commercial and industrial assets, including numerous complex international projects in every major region of the world.