Retail/Wholesale: WILLIAM D. ‘BILL’ NASH
PRESIDENT AND CEO, CARMAX INC., GOOCHLAND COUNTY
For the fiscal year that ended in February, CarMax, the largest retailer of used autos nationally, had net earnings of $1.2 billion. The fourth quarter, however, did present some challenges, with total used vehicle unit sales in the retail business declining 5.2%.
“We believe several macro factors weighed on marketwide used car sales, including consumer confidence, vehicle affordability, the omicron COVID surge and lapping stimulus benefits paid in the prior-year period,” Nash said during an April 12 earnings call.
Even so, he remained optimistic. “We believe we are well-positioned for continued long-term success,” he said.
A 1991 graduate of James Madison University, Nash started his career as an accountant before holding various positions at Circuit City. In 1997, he moved to CarMax, which the now-defunct electronics retailer launched in 1993.
There, Nash began as auction manager before revolving through different leadership positions. In February 2016, Nash stepped up as president before becoming CEO and taking a seat on the board of directors several months later. Recently, Nash set a goal to reduce CarMax’s greenhouse gas emissions 50% by 2025 and achieve net-zero emissions by 2050.