Management ChangeJun 12, 2026, 08:01 AM
OPENLANE Appoints David Hult to Board of Directors
AI Summary
OPENLANE, Inc. announced that its Board of Directors increased its size to ten members and elected David Hult as a new director, effective June 12, 2026. Mr. Hult, aged 60, brings extensive automotive retail experience, currently serving as Executive Chairman of Asbury Automotive Group. His appointment is for a term expiring at the 2027 annual meeting, and he will receive standard director compensation.
Key Highlights
- OPENLANE's Board of Directors increased its size to 10 directors.
- David Hult was elected as a new director, effective June 12, 2026.
- Mr. Hult's term will expire at the 2027 annual meeting of stockholders.
- Mr. Hult, age 60, currently serves as Executive Chairman of Asbury Automotive Group since May 2026.
- He previously served as President and CEO of Asbury from January 2018 to May 2026.
- Mr. Hult will receive cash and equity compensation as detailed in the Company's April 24, 2026 proxy statement.
Price Impact
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