CARMAX INC
Richmond, Virginia, United States · Automotive, E Commerce, Other
CarMax is the nation’s largest retailer of used cars, providing customers with a no-haggle experience and a wide selection of vehicles. The company emphasizes a culture of trust and innovation, leading to repeated recognition as one of the best workplaces. With a focus on customer service, CarMax also supports its employees' growth and development. The company continues to expand its job offerings
Key facts
- Headquarters
- Richmond, Virginia, United States
- Employees
- 31,000
- Industries
- Automotive, E Commerce, Other
- Status
- Public (KMX)
- Website
- carmax.com
- Company page
Recent activity at CARMAX INC
- : CarMax Appoints Elizabeth Dirgins as Chief Digital and Customer Officer
- : CarMax Partners with Sierra to Enhance Customer Call Experience Using AI Voice Agents.
- : SEC 8-K (5.02): On July 31, 2026, CarMax, Inc. announced the departure of Diane Cafritz, the Executive Vice President and Chief Innovation and People Officer, effective December 31, 2026. As part of her departure, an amendment to her severance agreement was made, modifying the calculation of severance benefits. Cafritz will now receive her full-year actual fiscal year 2027 annual bonus instead of a target bonus. Additionally, a consulting agreement was entered into, where she will provide services for six months post-departure, compensating her with $360,500, which represents half of her current annual salary. The new agreement also extends non-compete and non-solicitation terms for two and a half years from her departure date.
- : SEC 8-K (5.02): On June 23, 2026, at the CarMax, Inc. 2026 Annual Meeting of Shareholders, shareholders approved amendments to the CarMax, Inc. 2002 Stock Incentive Plan, which now reserves an additional 1,842,000 shares of the Company’s common stock for equity awards. Key changes include a minimum vesting requirement for incentive awards and the prohibition of dividends on unvested awards. The termination date of the plan has been extended from June 27, 2033, to June 23, 2036, responding to the need for attractive compensation mechanisms for employees and directors. This is expected to enhance employee retention and motivation through equity participation, thus potentially influencing long-term company performance.
- : SEC 8-K (5.02): On June 23, 2026, at the CarMax, Inc. Annual Meeting of Shareholders, shareholders approved amendments to the CarMax, Inc. 2002 Stock Incentive Plan. These amendments include an increase in the number of shares reserved for issuance under the plan by 1,842,000 shares, establishing a minimum vesting requirement for incentive awards with limited exceptions, prohibiting dividend payments on unvested incentive awards, and extending the termination date of the plan. This change is aimed at enhancing equity compensation to both employees and non-employee directors, thereby aligning their interests with those of shareholders.
- : SEC 8-K (2.03): On June 15, 2026, CarMax, Inc. and CarMax Auto Superstores, Inc. entered into a term loan credit agreement with MUFG Bank, Ltd. for a total principal amount of $500,000,000. This Credit Agreement provides a term loan facility that will mature on June 15, 2029, allowing the Borrower to utilize the funds for business operations and growth initiatives. The significance of this financing reflects CarMax's strategy to enhance liquidity and support its operational needs in an uncertain economic environment. This event is particularly crucial as it underscores CarMax's financial positioning and planned investments over the coming years.
- : CarMax Appoints New Principal Accounting Officer
- : SEC 8-K (5.02):
- : SEC 8-K (5.02): On June 3, 2026, CarMax, Inc. announced the planned retirement of Jill Livesay, the Vice President, Controller, and Principal Accounting Officer, effective July 31, 2026. This decision was not due to any disagreement regarding the company's operations or practices. To fill her vacancy, Enrique N. Mayor-Mora, the current Executive Vice President and Chief Financial Officer, has been appointed as the new Principal Accounting Officer, effective upon Ms. Livesay's retirement. This transition may impact the company’s financial oversight and reporting practices as it gains a new accounting leader.
- : SEC 8-K (5.02): On May 12, 2026, CarMax, Inc. announced plans to add Robert T. O’Shaughnessy to its Board of Directors, contingent upon shareholder approval at the upcoming 2026 Annual Meeting of Shareholders. This change is part of a management transition that includes the retirement of Shira Goodman and Mitchell Steenrod, who will not stand for re-election at the Annual Meeting. Mr. O’Shaughnessy, age 60, has significant experience in financial and operational leadership within industries, including direct expertise in the auto sector, which is expected to be beneficial for CarMax's strategic direction. His appointment is seen as bringing valuable insights into shifting market dynamics, with his previous role as Executive Vice President of PulteGroup, Inc. ending in March 2026.
CARMAX INC funding history
| Date | Round | Amount |
|---|---|---|
| Feb 2026 | Debt Financing | $750.0M |
| Jun 2021 | Venture | $98.2M |
Leadership
- Peter Bensen, Director
- Ronald Blaylock, Director
- Sona Chawla, Director
- Thomas Folliard, Director
- Mark O'Neil, Director
- Pietro Satriano, Director
- Marcella Shinder, Director
- Mitchell Steenrod, Director
- Shira Goodman, Director
- Robert Hombach, Director
- David McCreight, Director
- William Nash, Executive Officer, Director
Verified email and direct lines for CARMAX INC’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Employee benefit plans
CARMAX INC files 16 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.
CARMAX INC in the news
- CarMax to Host Strategic Update Webcast on November 3, 2026 - Business Wire (Sep 30, 2026)
- CarMax Teams with Sierra to Enhance Inbound Sales Call Experience - GlobeNewswire (Aug 06, 2026)
- CarMax shares drop as margin pressure overshadows strong quarterly results - Yahoo Finance (Jun 17, 2026)
- CarMax shares fall after CEO flags high costs, operational shortcomings - Reuters (Jun 17, 2026)
- CarMax Rises as Investors Extend a Favorable Post-Earnings Re-rating | KMX Stock News - Quiver Quantitative (Aug 20, 2026)
- CarMax shares fall after used car retailer reports earnings beats, CEO details turnaround plan - CNBC (Jun 17, 2026)
- CarMax Announces Leadership Appointments to Further Unify End-to-End Customer Experience, Advance Strategy for Growth - Business Wire (Sep 29, 2026)
- Dealers find battle with Carvana, CarMax heating up for inventory - Car Dealership Guy News (Apr 27, 2026)
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About CARMAX INC: questions and answers
What does CARMAX INC do?
CarMax is the nation’s largest retailer of used cars, providing customers with a no-haggle experience and a wide selection of vehicles. The company emphasizes a culture of trust and innovation, leading to repeated recognition as one of the best workplaces. With a focus on customer service, CarMax also supports its employees' growth and development. The company continues to expand its job offerings
Where is CARMAX INC headquartered?
CARMAX INC is headquartered in Richmond, Virginia, United States.
How many employees does CARMAX INC have?
CARMAX INC has about 31,000 employees.
Has CARMAX INC raised funding?
Yes. Fundz has recorded 2 funding events for CARMAX INC. The most recent, Debt Financing of $750.0M, was in Feb 2026.
What is the latest news on CARMAX INC?
On Sep 29, 2026, CarMax Appoints Elizabeth Dirgins as Chief Digital and Customer Officer
Is CARMAX INC a public company?
Yes. CARMAX INC is publicly traded under the ticker KMX.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy