Carmel, IN, December 1, 2022 – America’s Group (the “Company”), including America’s Auto Auction and Axle Funding, leading nationwide vehicle auction/remarketing and floorplan finance companies, today announced that its Chief Executive Officer, Cam Hitchcock, will step down and retire from America’s Group, effective December 31st, 2022. Mr. Hitchcock has served as the Company’s CEO since 2014.
America’s Auto Auction is proud to announce that Chuck Tapp will be promoted to Chief Executive Officer. Tapp has served as America’s Auto Auction’s Executive Vice President, Chief Revenue Officer, and board member for the last eight years. Mr. Tapp has more than 35 years of experience in the vehicle auction industry.
“We thank Cam for his significant contributions to the development and growth of the Company, including the successful integration of America’s Auto Auction and XLerate Group during 2022, and wish him all the best in the future,” said Gary Hokkanen, Partner at Brightstar Capital Partners, which acquired majority ownership of America’s Auto Auction in 2021. “We are thrilled that Chuck will lead the Company moving forward. We believe his experience and reputation in the industry will help America’s Auto Auction grow and continue to provide differentiated services to its customers in 2023 and beyond.”
“I’m thrilled to take the reins from my friend Cam and am excited about the future of the Company,” added Mr. Tapp. “I believe that this challenging time in our industry will also bring great opportunities, and the men and women of America’s Auto Auction are poised to capitalize on these opportunities and leverage both our digital and physical auction sites to redefine the remarketing industry.”
“This is a tough decision for me as the relationships we’ve developed over the years are very important to me, and the excitement of combining XLerate Group and America’s Auto Auction almost a year ago transformed and united both companies and changed industry dynamics,” added Mr. Hitchcock. “I have no doubt that America’s Auto Auction will continue to flourish under the leadership of Chuck and the entire senior leadership team.”
About America’s Auto Auction
America’s Auto Auction is a full-service used-vehicle auction services provider that facilitates the wholesale remarketing of used vehicles for B2B customers, delivering a critical liquidity function to enable the used car sales ecosystem. Based in Carmel, IN, America’s Auto Auction facilitates the selling and buying of used vehicles at physical auction sites across 19 states as well as on digital platforms. The Company’s daily mission is simple and straightforward: to provide high quality service and operational execution for dealers and institutional customers.