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Get filing alertsOPENLANE adds Asbury Automotive Executive Chairman David Hult to Board of Directors
Filed June 12, 2026 · Period ending June 9, 2026 · ~1 min read
Key Changes
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Board expanded from 9 to 10 directors with election of David Hult, Executive Chairman of Asbury Automotive Group, effective June 12, 2026. Term runs through 2027 annual meeting.
Item 5.02 verify on EDGAR → -
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Hult brings deep automotive industry expertise, having served as Asbury's CEO from 2018-2026 and COO from 2014-2018. Asbury is a major automotive retailer (NYSE: ABG).
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New director will receive standard compensation per company's April 2026 proxy statement. No special arrangements disclosed.
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Summary
OPENLANE expanded its Board of Directors to ten members with the appointment of David Hult, who currently serves as Executive Chairman of Asbury Automotive Group. Hult's appointment brings significant automotive industry leadership to OPENLANE's board at a time when the company operates a wholesale automotive marketplace platform.
Hult's credentials are substantial: he led Asbury as CEO for eight years before transitioning to Executive Chairman in May 2026, and previously served as COO. This automotive retail expertise could prove valuable as OPENLANE navigates the evolving wholesale vehicle marketplace. The appointment appears routine with standard director compensation and no unusual arrangements.
Retail investors should watch for how Hult's automotive retail perspective influences OPENLANE's strategic direction, particularly any initiatives targeting dealer relationships or marketplace expansion. His first contributions may surface in upcoming quarterly earnings calls or at the 2027 annual meeting where he stands for re-election.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 9, 2026, the Board of Directors (the “Board”) of OPENLANE, Inc. (the “Company”) increased the size of the Board to ten (10) directors and elected David Hult as a director of the Company, effective June 12, 2026. Mr. Hult will serve for a term expiring at the 2027 annual meeting of the Company’s stockholders and until his successor is duly elected and qualified.
The Board expanded from nine to ten directors and appointed David Hult as the new director. Mr. Hult's term runs until the 2027 annual stockholder meeting. This is a routine board expansion adding automotive industry expertise.
Added in current filing · verify on EDGAR →
Mr. Hult, age 60, has served as Executive Chairman of Asbury Automotive Group, Inc. (“Asbury”), an automotive retailer (NYSE: ABG), since May 2026, and as a member of the Board of Directors of Asbury since January 2018. Mr. Hult previously served as President and Chief Executive Officer of Asbury from January 2018 to May 2026 and Executive Vice President and Chief Operating Officer of Asbury from November 2014 to January 2018.
David Hult brings extensive automotive industry leadership experience, currently serving as Executive Chairman of Asbury Automotive Group and previously as its CEO from 2018 to 2026. His background includes senior operating roles at multiple automotive retail organizations, which may provide strategic value to OPENLANE's wholesale automotive marketplace business.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 12, 2026 · How we verify