Auction Vet Retires

By Staff Writer March 06, 2020

KAR Auction Services Inc. announced the retirement of industry and company veteran Tom Caruso.

Caruso serves as executive vice president and chief client officer for KAR Global and plans to retire this month. Caruso leaves a legacy of more than 40 years of leadership, dedication and innovation at KAR and across automotive remarketing.

“Tom is a true legend, and his positive influence can be seen across every corner of our industry,” said Jim Hallett, chairman and CEO of KAR Global. “Every handshake with Tom is a promise, and his hard work, dedication and never-quit attitude helped shape our company and our industry. He is a mentor to many, a friend to all and the shadow he casts will no doubt inspire the next generation of leaders.”

Caruso began his career in 1980 as the fleet manager of the Concord Auto Auction in Massachusetts, where he became general manager in 1984. He was instrumental in earning numerous local and national accounts at Concord, which led to its acquisition by ADESA in 1992. In 1993, Caruso was the architect of ADESA’s expansion into the 3-million-square-feet of former General Motors facility that houses ADESA Boston today. Given the subsequent and rapid growth that ADESA Boston experienced under Caruso’s leadership, the company re-opened the original Concord location as “ADESA Concord.” He later became executive vice president of ADESA, where he oversaw half of the company’s U.S.-based operations, before being promoted to chief operating officer of ADESA and then president and CEO of ADESA in 2009.

“As I look back at all I’ve accomplished in my career, I’m proud to say I never did it alone,” said Caruso. “I’ve been incredibly blessed and fortunate to work with so many great people over the years, from coworkers to customers to industry leaders and even our competitors. I’m grateful to all of you for helping me succeed and for positively impacting my life both in and outside of work.”

In 2006, Caruso was awarded the Lifetime Achievement Award from the Massachusetts Independent Auto Dealers Association (MIADA), the organization’s highest honor. In 2012, he was inducted into the National Auto Auction Association’s (NAAA) Hall of Fame and the National Independent Automobile Dealers Association (NIADA) Ring of Honor. He served as president of the NAAA from 2005 to 2006 before later serving on the NAAA’s scholarship committee.

Rate this item
(0 votes)
Last modified on Friday, 06 March 2020 13:31