CarMax Announces Two Senior Executive Promotions
RICHMOND, Va., Dec. 8, 2006 -- CarMax, Inc. , the nation's largest retailer of used cars, today announced the promotions of two senior executives.
Mike Dolan has been promoted to executive vice president and chief administrative officer. He will be responsible for focusing on CarMax's most important asset: the company's associates. A primary focus of his efforts will be to enhance associate engagement and development. Dolan will also continue to lead the Human Resources, Management Information Systems, Construction, Procurement, and Engineering departments and will continue in his role as chief compliance officer.
"One of our overarching goals is to operate a company that is considered a great place to work by associates at every level," said Tom Folliard, CarMax president and chief executive officer. "Mike's leadership skills and broad range of experience within CarMax uniquely position him to bring together all of the elements we need to sustain a well-led and highly engaged work force."
Dolan joined CarMax in 1997 as vice president and chief information officer, and he was named senior vice president in April 2001. Prior to joining CarMax, Dolan was vice president and chief information officer at H-E- B Grocery Company, a privately held retailer.
Richard Smith, previously vice president, management information systems, has been promoted to senior vice president and chief information officer. Smith will be responsible for all elements of CarMax's management information systems and its goal of providing a secure, reliable, and responsive technology environment.
"As a founding associate in 1991, Richard has been a key driver of many of the improvements at CarMax over the years," said Folliard. "Richard's demonstrated ability to act as both a business person and a technology leader will help us remain a premiere growth retailer."
Smith was the first full-time associate of CarMax. He worked on the original CarMax concept while at Circuit City Stores, Inc. in 1991. He has held various positions in technology and operations throughout his tenure with CarMax. Prior to joining CarMax, Smith worked at Circuit City as manager of merchandising/advertising/budgeting systems.
About CarMax
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2006 "100 Best Companies to Work For," is the nation's largest retailer of used cars. CarMax currently operates 74 used car superstores in 35 markets. CarMax also operates seven new car franchises, all of which are co-located with its used car superstores. During the twelve month period ended August 31, 2006, the company sold 311,241 used cars, which is 94% of the total 330,296 vehicles the company retailed during that period. For more information, access the CarMax website at http://www.carmax.com/.
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