Photo courtesy of CarMax.

Photo courtesy of CarMax.

CarMax has named Ed Hill its new chief operating officer, following the retirement of Cliff Wood, the nation's largest used-vehicle retailer has announced.

Wood plans top retire by the end of summer. Hill, 58, has been serving as the company's executive vice president of strategy and business transformation.

Hill joined CarMax in 1995 as director of service operations and advanced to senior vice president in 2012, when he assumed leadership of the company's corporate strategy. He was named to his current position in 2016.

CarMax has also promoted two other executives effective Nov. 1, including Darren Newberry, 48, to senior vice president of store operations and Joe Wilson, 44, to senior vice president of store strategy and logistics.