RICHMOND, VA - CarMax, Inc., the nation's largest retailer of used cars, announced the promotion of Tom Reedy to senior vice president and chief financial officer.

Reedy, 46, will be responsible for CarMax's finance organization, including accounting, treasury, financial planning and analysis, tax and risk management. The company will begin recruiting for the position of treasurer, which Reedy previously held.

"Tom has done a great job as treasurer and has played an instrumental role in all financial aspects of the company. Many of the accounting departments already transitioned to his leadership more than a year ago," said Tom Folliard, CarMax president and CEO. "We look forward to his continued leadership in his new role."

Reedy will continue to report to Keith Browning, 57, who previously served as CFO. Keith will remain with CarMax in the role of executive vice president, finance. Browning will continue to manage CarMax Auto Finance, consumer finance and investor relations.

Previously, Reedy served as senior vice president, finance. He joined CarMax in 2003 as vice president, treasurer, and was a founding board member of The CarMax Foundation. Prior to CarMax, Reedy served as vice president, corporate development and treasurer at Gateway, Inc., and in various financial roles at both American Airlines and GATX Corporation.

Reedy holds a Bachelor of Arts in Economics from the University of California at Los Angeles, and a Master of Business Administration from the Darden School at the University of Virginia.