CarMax Appoints CFO

October 28, 2019

CarMax, Inc. announced Enrique Mayor-Mora will be promoted to senior vice president and CFO, from treasurer.

Tom Reedy, who has served as CFO since 2010 and as executive vice president since 2012, will become executive vice president of finance. Mayor-Mora will continue to report to Reedy.

Mayor-Mora, 51, joined CarMax in 2011 as vice president of finance and in 2016 moved into the treasurer role. Prior to joining CarMax, he served as vice president of financial planning and analysis and investor relations at Denny’s Corporation from 2005 to 2011.

CarMax, Inc. announced its board of directors has elected Mark O’Neil as a director.

O’Neil, 61, retired as COO of Cox Automotive in March. He was named to that position in 2016 following Cox’s acquisition of Dealertrack, where he was chief executive officer and a director. O’Neil worked on the development and rollout of CarMax and served in various roles at CarMax from 1992 until 2000, including as vice president from 1997 to 2000.

“Mark is an automotive industry veteran with significant experience in bringing digital innovations to market,” said Bill Nash, chief executive officer of CarMax.

CarMax, Inc. reported increased sales and net income for the second quarter ended Aug. 31.

During the quarter, net sales and operating revenues increased 9.1 percent, to $5.20 billion; used unit sales in comparable stores increased 3.2 percent; total used unit sales rose 6.2 percent; total wholesale unit sales increased 4.7 percent; CarMax Auto Finance (CAF) income increased 4.1 percent to $114.1 million; and net earnings increased 5.8 percent to $233.6 million.

Net earnings per diluted share increased 12.9 percent, to $1.40.

The company also reported its omni-channel experience remains on track to be available to the majority of customers by the end of fiscal 2020.

CarMax Inc. further expanded its new personalized car buying experience to customers in Virginia.

Customers can now choose to complete the entire car-buying experience from home and have the car delivered, including the ability to test drive, prior to purchase.

The new personalized experience is now available in Richmond and Norfolk-Newport News with next day delivery. All services except next-day delivery are also available Lynchburg-Roanoke, Harrisonburg and Charlottesville.

CarMax Inc. announced its new personalized car buying experience is now available to CarMax customers in Florida.

Customers can now choose to complete the entire car-buying experience from home and have the car delivered, including the ability to test drive, prior to purchase.

The new personalized experience is now available in Miami, Ft. Lauderdale, West Palm Beach, Tampa, Orlando, Ft. Myers, Naples, and Jacksonville. The service launched at the end of June in Gainesville, Pensacola and Tallahassee.

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