RICHMOND, VA – CarMax, Inc. has elected Thomas J. Folliard, executive vice president - store operations, as president, CEO, and member of the board of directors, succeeding Austin Ligon, who is retiring. Folliard will assume his new responsibilities June 21.

Folliard, 41, was a member of the team that developed and launched CarMax in 1993. He has served as executive vice president - store operations since 2001, overseeing sales, service, store operations, inventory management, and merchandising for the company's 71 retail superstores.