Fairfield-based Spectrum Automotive Holdings Corp. on Monday announced that John Hammer, former president of the ADESA carbuying platform, was appointed CEO.
An experienced business leader, Hammer will succeed Jim Polley, who founded Vanguard Dealer Services and Spectrum in 1999. Polley will continue on the Spectrum board.
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,” Polley said. “We expect this to be a smooth and successful transition.”
Robert Howarth, chief financial officer of Spectrum, added: “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.