CarMax Inc. (NYSE: KMX) announced plans to add Robert O'Shaughnessy to its board of directors, subject to shareholder approval at the company's 2026 annual meeting. The used car retailer also said directors Shira Goodman and Mitchell Steenrod will retire and not stand for re-election.

O'Shaughnessy retired in March 2026 as executive vice president of PulteGroup Inc., where he served as chief financial officer from May 2011 to February 2025. He previously held the CFO role at Penske Automotive Group from 2007 to 2011 and worked in various financial positions at Penske from 1997 to 2007. He began his career at Ernst & Young.

Following the annual meeting, CarMax's board will consist of 11 directors, with nine being independent. Tom Folliard will serve as non-executive chair, while Mark O'Neil will become lead independent director.

CarMax reported selling approximately 780,000 used vehicles and 540,000 wholesale vehicles during the fiscal year ended February 28, 2026. CarMax Auto Finance originated $8 billion in auto loans during fiscal 2026, adding to its $16 billion portfolio. The company operates more than 255 store locations with approximately 28,000 associates.

The information is based on a company press release.