FAIRFIELD, N.J., January 27, 2023 (Newswire.com) - Spectrum Automotive Holdings Corp. ("Spectrum"), announced today that John Hammer, former President of ADESA, has been appointed Chief Executive Officer. An experienced business leader, John Hammer will succeed Jim Polley, who founded Vanguard Dealer Services and Spectrum in 1999. Jim Polley will continue on the Spectrum Board.

John Hammer is a seasoned automotive industry executive with over 30 years of experience, including CEO-level roles in automotive finance, automotive retail dealership operations, finance operations, and automotive auctions.

"We are excited to welcome John Hammer as CEO and expect him to have a tremendous impact on the continued progress we are making growing Spectrum's platform," said Jim Polley. "We expect this to be a smooth and successful transition."

Robert Howarth, CFO of Spectrum, advised "John comes to us with the precise industry, financial, and business acumen to propel Spectrum to the next level. We are very excited to have him join our team. We want to thank Jim for his tremendous leadership, and we are grateful that he will continue to stay actively involved in the company as it moves into this next phase of growth." 

Hammer joins Spectrum effective Feb. 6, 2023. 

About Spectrum

Founded in 1999 and headquartered in Fairfield, New Jersey, Spectrum is an agent, marketer and administrator of finance and insurance ("F&I") products for the U.S. automotive market. Spectrum is a distribution-focused company in the F&I industry that provides a full suite of proprietary and third-party extended warranty and ancillary products, serving thousands of partners, including dealerships, administrators, and original equipment manufacturers. www.spectrumautoholdings.com.