CarMax appoints former IHG head Keith Barr as new chief executive
Used-car retailer CarMax has appointed Keith Barr to lead its turnaround efforts amid falling demand. The former IHG executive takes charge on March 16, 2026.
Insights:
CarMax, Inc. announced today, February 12, 2026, that it has named Keith Barr as its next chief executive, effective March 16. The leadership change occurs while the company is implementing a turnaround plan amid weaker demand in the used vehicle market and significant margin pressures. Following the announcement, shares of the company dropped by more than 5% in early trading.
