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StocksMedium•13 February 2026•

1 min read

CarMax Appoints Keith Barr as CEO to Lead Strategic Turnaround

A man in a suit over a stock chart with 'Mondelez International' text, surrounded by chocolate, cocoa beans, factories, and shops.

CarMax, the largest used-car retailer in the U.S., has appointed Keith Barr as its new CEO to spearhead a comprehensive recovery plan. Barr, the former CEO of IHG Hotels & Resorts, is expected to assume his new role in March following the departure of the previous chief executive in November. The leadership change comes as the company seeks to reverse a multi-year sales slump that has persisted since 2022. His strategic focus will center on enhancing the company's digital sales platform and optimizing vehicle acquisition and reconditioning costs. Investors view the appointment of a high-profile veteran executive as a positive step toward stabilizing the retailer's operational performance. This transition marks a pivotal moment for CarMax as it aims to navigate a challenging retail environment and restore growth.