RICHMOND, Va. (WRIC) — CarMax, the used car retailer headquartered in Richmond, announced Thursday that its chief executive officer (CEO) is stepping down next month after more than 30 years with the company.

According to the release, current CEO Bill Nash will leave his position and the CarMax board of directors on Monday, Dec. 1.

The company said board member David McCreight, a "proven retail business leader and brand strategist" with more than 20 years of leadership experience, will step in as interim president and CEO.

Board Chair and former CEO Tom Folliard has also been appointed interim executive chair as CarMax continues its search for a permanent CEO, the company said.

"The Board has decided that more direct involvement from [McCreight] and me will help strengthen the business

See Full Page