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CarMax board elects new directors

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The board of directors for CarMax Inc. has elected two new members.

Rakesh Gangwal and Mitchell D. Steenrod will join the board of the Richmond-based used car retailer, expanding total board membership to 13.

Gangwal, 57, has more than 25 years of experience in the travel and technology fields. From 2003 to 2007, he was chairman, president and CEO of Worldspan Technologies Inc. He served as chief executive officer of US Airways Group from 1998 to 2001 and is a co-founder of IndiGo, India’s largest low-fare airline. Gangwal also serves on the boards of Petsmart Inc. and Office Max Inc., where he is the non-executive chairman.

Steenrod, 44, has been the senior vice president and chief financial officer of Pilot Flying J since 2004, and became the company’s chief information officer in 2006. Pilot Flying J is one of the top 10 privately help companies in the United States and is the nation’s largest travel center company, operating more than 500 travel plazas and travel centers throughout North America. Previously, Steenrod spent 12 years with Marathon Oil Co. and Marathon Ashland Petroleum. He holds board positions with the Knoxville Area Chamber Partnership and the East Tennessee Foundation.

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