February 12, 2026 9:43 AM, EST
CarMax Inc. named Keith Barr as CEO, bringing in the former InterContinental Hotels Group Plc chief to modernize the company and revive performance.
The used car retailer terminated former CEO William D. Nash in November after lagging sales and a slump in the stock had erased more than half of CarMax’s market value in a year.Â
Barr previously led a digital overhaul at IHG, focusing on technology upgrades and customer experience improvements aimed at driving growth and operational efficiency. He stepped down from his position at the hotel company in 2023.
Chair Tom Folliard said Barr’s experience in digital transformation and brand building positions him to lead CarMax through a critical period. Folliard will remain interim executive chair until the company’s annual meeting in June 2026, after which he’s expected to resume his role as non-executive chair.
