CarMax Names Keith Barr as Chief Executive Officer

Barr to lead used car retailer through next phase of growth

Published on Feb. 12, 2026

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CarMax, Inc. (NYSE: KMX) announced that Keith Barr has been appointed as the company's new President and Chief Executive Officer, effective March 16, 2026. Barr, who previously served as CEO of InterContinental Hotels Group, will take over from David McCreight, who had been serving as Interim President and CEO. Tom Folliard will remain as Interim Executive Chair of the Board until CarMax's Annual Meeting in June 2026.

Why it matters

The appointment of Barr, an experienced leader in consumer-focused businesses, signals CarMax's intent to drive growth and enhance the customer experience as it navigates a critical juncture in the highly competitive used car market. Barr's track record of leading digital transformations and building brand loyalty will be crucial as CarMax seeks to better serve the evolving needs of modern car buyers.

The details

Barr has over 25 years of executive leadership experience in global hospitality, consumer marketing, and brand-led growth. During his tenure as CEO of InterContinental Hotels Group from 2017 to 2023, he led the expansion of IHG's global portfolio of brands, advanced the company's digital and loyalty initiatives, and oversaw significant growth in its global footprint. Prior to becoming CEO, Barr held senior leadership roles at IHG in the Americas, Asia, Middle East and Africa, and Greater China regions.

  • Barr's appointment as President and CEO of CarMax will be effective on March 16, 2026.
  • Folliard will remain as Interim Executive Chair of the Board until CarMax's Annual Meeting in June 2026.

The players

Keith Barr

An experienced leader with over 25 years of executive experience in global hospitality, consumer marketing, and brand-led growth. He previously served as CEO of InterContinental Hotels Group from 2017 to 2023.

David McCreight

The current Interim President and CEO of CarMax, who will transition to his prior duties as an independent Director of the Board.

Tom Folliard

The Interim Executive Chair of the Board at CarMax, who is expected to resume his prior duties as non-executive Chair of the Board after the company's Annual Meeting in June 2026.

CarMax, Inc.

The nation's largest retailer of used autos, which has revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction.

InterContinental Hotels Group (IHG)

One of the world's largest hotel companies, where Barr served as CEO from 2017 to 2023.

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What they’re saying

“The Board and I are thrilled to welcome Keith to CarMax. His decades of leadership experience and proven ability to enhance the customer experience, lead digital transformations, build brand loyalty, and effectively integrate online and physical properties make Keith the right choice to lead CarMax through a critical juncture and drive the company's next chapter of growth.”

— Tom Folliard, Interim Executive Chair of the Board, CarMax (BusinessWire)

“I am honored to join CarMax and lead this iconic organization alongside our talented associates. A car is one of the most important purchases American families make, and today's consumer is increasingly seeking value and a customized shopping experience. I believe the large and highly fragmented used vehicle market is only in the early innings of meeting the needs of the modern consumer. CarMax is uniquely positioned to capture this opportunity by delivering the best value and service across both in-person and online channels, leveraging its transparent pricing, extensive inventory, and flexibility to shop however customers prefer. I'm excited to lead this great company into its next chapter of growth, building on more than three decades of market leadership.”

— Keith Barr (BusinessWire)

What’s next

Folliard will remain as Interim Executive Chair of the Board until CarMax's Annual Meeting in June 2026, after which he is expected to resume his prior duties as non-executive Chair of the Board.

The takeaway

The appointment of Keith Barr, an experienced leader with a track record of driving growth and enhancing the customer experience in consumer-focused businesses, signals CarMax's commitment to adapting to the evolving needs of modern car buyers and capturing the opportunities in the large and fragmented used vehicle market.