OPENLANE will have a new executive vice president and chief financial officer in place effective on May 27.

Late on Tuesday, the company named Brad Herring as its incoming CFO to be responsible for leading all financial, reporting and investor-facing functions across OPENLANE, including the company’s capital investment strategy.

According to a news release, Herring will join OPENLANE’s executive team and report to CEO Peter Kelly.

“We remain committed to our vision to build the world’s greatest digital marketplace for used vehicles,” Kelly said in the news release. “Brad has a long track record improving financial and operational performance while increasing visibility and strengthening rapport with investors — a great fit as OPENLANE extends our momentum. His growth-mindset grounded in data, analytics and collaboration will complement and reinforce our culture of bold innovation and disciplined financial management.

“Brad’s stable leadership and diverse experiences are just what we need to advance our strategy while delivering the very best results for both our customers and our stockholders,” Kelly continued.

Herring brings more than 30 years of experience spanning financial operations, investor relations, financial planning and analysis, public company reporting and business development.

Most recently, Herring spent more than a dozen years serving as CFO of digitally forward companies including Enfusion, a SAAS provider for hedge funds and asset managers, and Shift4 Payments, a global leader in technology-led payment processing.

Herring also was the CFO of Elavon, a global provider of merchant services and payment processing, and Fiserv’s Digital Banking Group. Previously, he held roles of progressive financial leadership at Equifax, Delta Air Lines and ING North America.

“I am very excited to be joining OPENLANE on its journey leading the digital transformation of buying and selling wholesale used vehicles,” Herring said. “With Peter’s leadership and OPENLANE’s team of skilled professionals, I have great confidence in the organization’s ability to deliver continued growth and value to both customers and shareholders through the unique pairing of its market-leading technology solutions and highly scalable financial profile.”