Starboard Value Urges CarMax to Revamp Digital Sales
The activist investor urged CarMax to cut costs and improve its digital platform to regain market share. Starboard also nominated two candidates to the board.
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Activist investor Starboard Value has called for significant changes at CarMax, Inc., suggesting the used-car retailer is underperforming relative to its market potential. In a letter addressed to incoming CEO Keith Barr, the investment firm outlined a strategy to modernize digital operations and implement stricter cost controls.
