Carmax, Inc. has announced the appointment of Keith Barr as the new President and Chief Executive Officer, effective March 16, 2026. Barr, who served as the Chief Executive Officer of Intercontinental Hotels Group (IHG) from 2017 to 2023, is expected to bring his extensive leadership experience in global hospitality, consumer marketing, and brand-led growth to drive the next chapter of growth for Carmax.
During his tenure at IHG, Barr led the expansion of IHG’s global portfolio of brands, advanced IHG’s digital and loyalty value propositions, and oversaw significant growth in the company’s global footprint. Notably, Barr reimagined IHG’s customer experience, modernized its technology, and delivered substantial improvements in operational efficiency, customer satisfaction, and brand loyalty.
Carmax, the nation’s largest retailer of used autos, has also reported its fiscal year-end results for the period ending February 28, 2025. The company sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at its auctions during this period. Furthermore, Carmax Auto Finance originated more than $8 billion in auto loans, adding to its nearly $18 billion portfolio.
These figures illustrate Carmax's significant presence in the used auto retail industry and the scale of its operations. The appointment of Keith Barr as the new CEO and the company's strong performance in the previous fiscal year indicate a pivotal moment for Carmax as it looks to leverage its position to capture the evolving needs of the modern consumer in the used vehicle market. Following these announcements, the company's shares moved 0.64%, and are now trading at a price of $48.83. For more information, read the company's full 8-K submission here.
