Thomas J. Folliard served as the CEO of CarMax from June 2006 until his retirement in August 2016. He joined CarMax in 1993, starting as a senior buyer, and climbed the ranks rapidly. His hands-on experience helped him shape the...
Thomas J. Folliard served as the CEO of CarMax from June 2006 until his retirement in August 2016. He joined CarMax in 1993, starting as a senior buyer, and climbed the ranks rapidly. His hands-on experience helped him shape the company's purchasing process and auction system for cars. During his time as CEO, CarMax expanded its market presence significantly. Interestingly, Folliard's compensation in fiscal year 2016 totaled over $1 million, with his salary making up a portion of that. He retired amidst a well-structured succession plan that saw William D. Nash take over leadership. Under Folliard, CarMax adopted long-term performance incentives that directly linked executive compensation to the company's success, reflecting a strong pay-for-performance strategy. Folliard's insider trading activity also highlights his deep commitment to the company's growth, managing shares worth tens of millions across several years, showing confidence in the direction of CarMax. His length of service and experience in various roles demonstrate a solid understanding of both the company and the retail automobile industry.