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SYNETIQ Appoints First Sustainability Manager and Celebrates New ISO Accreditation

·6 min read

Company's ambitious sustainability strategy bolstered by new manager and ISO accreditation

DONCASTER, England, May 19, 2022--(BUSINESS WIRE)--IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, today announced that its UK-based business unit, SYNETIQ Ltd., has appointed its first Sustainability Manager, Elisa Caton, as it aims to ensure environmental awareness is embedded across all its operations. SYNETIQ has also now achieved ISO 50001 – the energy management accreditation which requires an ongoing, sustained improvement in energy efficiency and reduction in greenhouse gas emissions.

Caton, who holds a master’s degree in environmental science from the University of York and brings with her seven years of experience in the sustainability sector, joins the company to support SYNETIQ’s journey towards its goal of net-zero status. Her appointment is part of the ‘Our Road to Tomorrow’ strategy, a blueprint for how the company will remain the most trusted and sustainable business in its sector.

SYNETIQ’s sustainability strategy aims to make it the market-leader for sustainability, with newly appointed Elisa working alongside external consultants and advisers to deliver the company’s ambitious new targets, developed in conjunction with a specialist circular economy consultancy.

Caton, who joins from the role of Climate Change Project Manager with Wakefield Council, will take over responsibility for sustainability inductions and ongoing Carbon Literacy training to all employees. She will also engage with colleagues, clients and communities to identify and deliver sustainability gains across the board.

Commenting on her appointment, Caton said: "I am absolutely delighted to be joining a company that’s so committed to sustainability and where a passion for the environment is so deep-rooted. I have been really impressed with the work SYNETIQ has already achieved - so many businesses talk the talk when it comes to sustainability, but SYNETIQ is a business that walks the walk."

Tom Rumboll, UK Managing Director for IAA and CEO of SYNETIQ, said: "We are thrilled to have a Sustainability Manager of Elisa’s calibre join our team and are unbelievably excited about the positive difference she’s going to support across the business. Having a sustainability strategy is one thing, developing the structure and delivering market-leading, measurable results is quite another. We want every member of the SYNETIQ team to be thinking about sustainability in all that they do."

About IAA

IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,500 employees and more than 210 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information on IAA in the U.S. visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn. For more information about SYNETIQ visit SYNETIQ.co.uk, and follow SYNETIQ on Facebook, Twitter, Instagram, and LinkedIn.

Forward-Looking Statements

Certain statements contained in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made in this release that are not historical facts may be forward-looking statements. Words such as "should," "may," "will," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions identify forward- looking statements. Such statements include statements regarding the expected timing and associated benefits with respect to the announcement of SYNETIQ Ltd.’s new sustainability manager and ISO accreditation on our business and plans regarding our growth strategies and margin expansion plan, and to our customers and company generally. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties regarding COVID-19, and other potential future health crises, including new more contagious and/or vaccine resistant variants, and the impact on the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread, including the availability, rate of public acceptance and efficacy of COVID-19 vaccines; the loss of one or more significant vehicle suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; risks associated with online commerce security and credit card fraud; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion plan; weather-related and other event beyond our control which may adversely impact operations; failure to attract and retain key personnel, have inadequate succession planning, or manage labor shortages; business development activities, including acquisitions and the integration of acquired businesses, and the risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the "SEC"), including under Item 1A "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on February 28, 2022, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements in this release are made as of the date on which they are made and we do not undertake to update our forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005416/en/

Contacts

IAA Contacts

Media Inquiries:
Jeanene O’Brien | IAA, Inc.
SVP, Global Marketing and Communications
(708) 492-7328 | jobrien@iaai.com

Analyst Inquiries:
Arif Ahmed | IAA, Inc.
(708) 492-7257 | arif.ahmed@iaai.com

Caitlin Churchill | ICR
(203) 682-8200
investors@iaai.com