CarMax family mourns the passing of long-time director and friend, Tom Stemberg

RICHMOND, Va., 2015-10-26 — /EPR Retail News/ — The CarMax, Inc. (NYSE:KMX) family mourns the passing of long-time director and friend, Tom Stemberg. “We are deeply saddened by Tom’s passing,” said Tom Folliard, CarMax president and CEO. “Our thoughts are with his family and friends at this time. Tom’s courageous fight against cancer is indicative of how he approached his life, with commitment and vigor.”

Stemberg joined the CarMax board of directors in 2003 when CarMax had opened just 44 used car stores and was instrumental in guiding CarMax’s growth to 153 stores today. The experience and insight that Stemberg gained by pioneering the office superstore industry (with the opening of the first Staples store in 1986) and serving as its CEO through 2002, were critical in assisting CarMax in its goal of revolutionizing the used car industry. “Tom’s leadership on our board of directors, his contribution to the growth and success of CarMax, and his personal mentorship were invaluable and greatly appreciated,” said Folliard.

About CarMax

CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE“100 Best Companies to Work For” for 11 consecutive years, is the nation’s largest retailer of used vehicles. Headquartered in Richmond, Va., CarMax currently operates 153 used car stores in 76 markets. The CarMax consumer offer features low, no-haggle prices, a broad selection of CarMax Quality Certified used vehicles and superior customer service. During the fiscal year ended February 28, 2015, the company retailed 582,282 used cars and sold 376,186 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com.

Contacts:

Investors:
Katharine Kenny, Vice President, Investor Relations, (804) 935-4591
Celeste Gunter, Manager, Investor Relations, (804) 935-4597

Media:
pr@carmax.com, (855) 887-2915

SOURCE: CarMax Business Services, LLC