CarMax Names Keith Barr as CEO, Effective March 16, 2026
CarMax appointed Keith Barr, former CEO of InterContinental Hotels Group, as President and CEO effective March 16, 2026, and added him to the Board, which grows from nine to ten directors. David McCreight steps down as interim CEO and returns to the Board as an independent director, so the change replaces the company's interim leadership with a permanent chief executive.
Key points
- Keith Barr is set to receive an annual base salary of $1,250,000 and an annual target bonus of 175% of base salary.
- Barr's sign-on awards include restricted stock units and stock options, each with a target grant date fair value of $1,000,000.
- Barr's severance agreement provides two times the sum of base salary and target annual bonus if he is terminated without cause or resigns for good reason.
- Tom Folliard remains Interim Executive Chair until the Annual Meeting in June 2026.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 12, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.