CarMax appoints board member David McCreight as interim CEO

CarMax (KMX) announced leadership changes. David McCreight, a member of the Board of Directors, has been named Interim President and CEO. Concurrently with McCreight’s appointment, current Chair of the Board, Tom Folliard, an executive with a 30-year history with CarMax, including as CEO from 2006 to 2016, has been appointed Interim Executive Chair of the Board. Current CEO, Bill Nash, is stepping down from his position and as a member of the Board. The changes are effective as of December 1. The search to identify the permanent CEO is being supported by professional search firm Russell Reynolds Associates and is being overseen by the Compensation and Personnel Committee. McCreight has served on the CarMax Board of Directors for seven years. He served as Executive Chair of Lulu’s Fashion Lounge Holdings from 2023 to 2024 and he served as CEO of Lulu’s from 2021 to 2023. McCreight also served as President of Urban Outfitters from 2016 to 2018, and CEO of Anthropologie from 2011 to 2018. Previously, McCreight served as President of Under Armour from 2008 until 2010 and he was President, from 2005 to 2008, and Senior Vice President, from 2003 to 2005, of Lands’ End.