{"id":936397,"date":"2026-02-12T06:58:03","date_gmt":"2026-02-12T11:58:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/carmax-names-keith-barr-as-chief-executive-officer\/"},"modified":"2026-02-12T06:58:03","modified_gmt":"2026-02-12T11:58:03","slug":"carmax-names-keith-barr-as-chief-executive-officer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/carmax-names-keith-barr-as-chief-executive-officer\/","title":{"rendered":"CarMax Names Keith Barr as Chief Executive Officer"},"content":{"rendered":"

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CarMax Names Keith Barr as Chief Executive Officer<\/span><\/b><\/p>\n

RICHMOND, Va.–(BUSINESS WIRE<\/a>)–
\nCarMax, Inc. (NYSE: KMX) (\u201cCarMax\u201d or the \u201cCompany\u201d) today announced that Keith Barr has been appointed President and Chief Executive Officer, and a member of the Board of Directors (\u201cthe Board\u201d), effective March 16, 2026. David McCreight, current Interim President and CEO of CarMax, will transition to his prior duties as an independent Director of the Board. Tom Folliard will remain in his role as Interim Executive Chair of the Board until the Company\u2019s Annual Meeting in June 2026, after which he is expected to resume his prior duties as non-executive Chair of the Board.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260212833859\/en\/<\/a><\/p>\n

\"Keith<\/p>\n

Keith Barr, CarMax President & CEO effective March 16, 2026<\/p>\n<\/div>\n

\nMr. Barr is a proven leader who has driven transformational growth and operational excellence across large-scale, consumer-centric businesses. Most recently, he served as Chief Executive Officer at InterContinental Hotels Group (NYSE: IHG), where he led one of the world’s largest hospitality companies with 345,000 people working across more than 6,000 properties in over 100 countries. During his tenure, Mr. Barr reimagined IHG\u2019s customer experience, modernized IHG’s technology to support large-scale growth, and delivered substantial improvements in operational efficiency, customer satisfaction, and brand loyalty. Notably, Mr. Barr oversaw the development of an innovative digital reservation system that enhanced the booking experience and empowered guests to personalize their stays, setting a new standard for the industry. Under Mr. Barr\u2019s leadership, IHG grew market share across geographies and created significant value for shareholders. Mr. Barr also currently serves on the Board of Directors at MGM Resorts.<\/p>\n

\n\u201cThe Board and I are thrilled to welcome Keith to CarMax. His decades of leadership experience and proven ability to enhance the customer experience, lead digital transformations, build brand loyalty, and effectively integrate online and physical properties make Keith the right choice to lead CarMax through a critical juncture and drive the company\u2019s next chapter of growth,\u201d said Mr. Folliard. \u201cKeith\u2019s values-based approach to leadership will enhance CarMax\u2019s award-winning people-first culture, and he has demonstrated a clear ability to drive profitable sales growth alongside an unwavering focus on the consumer.\u201d<\/p>\n

\nMr. Folliard continued, \u201cWe are grateful to David for stepping into the role of Interim CEO over the past several months. As we conducted a thorough search for the right leader for CarMax\u2019s next phase, David\u2019s leadership was vital to strengthen the business in the near-term and solidify the foundation from which we will grow.\u201d<\/p>\n

\n\u201cI am honored to join CarMax and lead this iconic organization alongside our talented associates,\u201d said Mr. Barr. \u201cA car is one of the most important purchases American families make, and today\u2019s consumer is increasingly seeking value and a customized shopping experience. I believe the large and highly fragmented used vehicle market is only in the early innings of meeting the needs of the modern consumer. CarMax is uniquely positioned to capture this opportunity by delivering the best value and service across both in-person and online channels, leveraging its transparent pricing, extensive inventory, and flexibility to shop however customers prefer. I’m excited to lead this great company into its next chapter of growth, building on more than three decades of market leadership.\u201d<\/p>\n

About Keith Barr<\/span><\/b><\/p>\n

\nMr. Barr has more than 25 years of executive leadership experience in global hospitality, consumer marketing, and brand-led growth across highly competitive and fast-evolving markets. His leadership experience includes large-scale brand portfolio management, loyalty and digital transformation initiatives, operational improvement, and global expansion.<\/p>\n

\nMr. Barr served as Chief Executive Officer of InterContinental Hotels Group PLC (\u201cIHG\u201d), one of the world\u2019s largest hotel companies, from 2017 to 2023. During his tenure as CEO, Mr. Barr led the expansion of IHG\u2019s global portfolio of brands spanning luxury, premium, and essential segments, advanced IHG\u2019s digital and loyalty value propositions, and oversaw significant growth in the company\u2019s global footprint.<\/p>\n

\nPrior to becoming CEO, Mr. Barr served as Chief Commercial Officer, where he held global responsibility for brands, sales, marketing, revenue management, loyalty functions and the consumer digital strategy. He joined IHG in 2000 and has held senior leadership positions in IHG\u2019s Americas, Asia, Middle East and Africa (AMEA), and Greater China regions, including four years as CEO of IHG\u2019s Greater China business.<\/p>\n

\nPrior to joining IHG, Mr. Barr held several senior positions at Bristol Hotels and Resorts, which was acquired by IHG in 2000.<\/p>\n

About CarMax<\/span><\/b><\/p>\n

\nCarMax, the nation\u2019s largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. During the fiscal year that ended February 28, 2025, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated more than $8 billion in auto loans during fiscal 2025, adding to its nearly $18 billion portfolio. CarMax has more than 250 store locations, over 28,000 associates, and is proud to have been recognized for 21 consecutive years as one of the Fortune 100 Best Companies to Work For\u00ae. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the 2025 Responsibility Report. For more information, visit www.carmax.com<\/a>.<\/p>\n

Forward-Looking Statements<\/span><\/b><\/p>\n

\nWe caution readers that the statements contained in this release that are not statements of historical fact, including statements about our future business plans, operations, challenges, opportunities or prospects, including without limitation any statements or factors regarding expected succession matters, operating capacity, sales, inventory, market share, financial and operational targets and goals, revenue, margins, expenses, liquidity, loan originations, capital expenditures, share repurchase plans, debt obligations or earnings, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccommitted,\u201d \u201ccould,\u201d \u201cenable,\u201d \u201cencouraged,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cfocused on,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201con track,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpositioned,\u201d \u201cpredict,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill\u201d and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management\u2019s current knowledge, expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Among the factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements are the following:<\/p>\n