3
Ernest Garcia III
Co-Founder, Chairman, President and CEO
2012 – Present
14 years (current)
Legacy
Founded Carvana inside DriveTime in 2012, took it public in 2017 and led the 2022-2023 restructuring that shifted the company to profitable growth.
Carvana Co.
Online Automotive RetailFounded 2012- HQ today: Tempe, Arizona
Reviewed by Swet Parvadiya
Company data updated: October 2026
Leadership History
Carvana: CEO History
3 leaders · 2012 to present
Who is the CEO of Carvana?
Ernest Garcia III is the CEO of Carvana, in the role since 2012.
- Current CEO
- Ernest Garcia III (since 2012)
- Leaders documented
- 4
- Founded
- 2012
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| Ernest Garcia III | Co-Founder, Chairman, President and CEO | 2012 | Present | 14 |
| Ben Huston | Co-Founder and Chief Operating Officer | 2012 | Present | 14 |
| Ryan Keeton | Co-Founder and Chief Brand Officer | 2012 | Present | 14 |
Company Overview
Carvana turned used-car buying into an e-commerce transaction: customers browse inventory with 360-degree photos, get financing terms online, trade in their old car and schedule delivery or pickup, backed by a 7-day return policy. The company went public on the NYSE in 2017, nearly collapsed in 2022, and joined the S&P 500 in December 2025 after a turnaround that delivered record profits. The company is headquartered in Tempe, Arizona.
Carvana earns money in three ways. First, it sells used vehicles online at a retail margin; it buys inventory from consumers (its "sell your car" instant offers), auctions and partners, reconditions cars in its own Inspection and Reconditioning Centers (IRCs), and delivers them with an in-house trucking network. Second, it earns "other" gross profit by originating auto loans for customers and selling those loans to investors and securitization trusts, plus commissions on vehicle service contracts and GAP waiver coverage. Third, it sells cars that do not meet its retail standard through wholesale channels, including the ADESA U.S. physical auctions it bought in 2022. Loan servicing is handled by Bridgecrest, an affiliate of the Garcia family-controlled DriveTime, under related-party agreements disclosed in Carvana filings.
2
Ben Huston
Co-Founder and Chief Operating Officer
2012 – Present
14 years (current)
Legacy
Runs operations including reconditioning and logistics.
1
Ryan Keeton
Co-Founder and Chief Brand Officer
2012 – Present
14 years (current)
Legacy
Leads brand and marketing, including the car vending machine concept.
Other senior executives
These officers report to the chief executive and are not part of the CEO timeline above.
- Mark Jenkins, Chief Financial Officer (2014 – present)Source →
Challenges & Strategic Context
Carvana carries several hard-to-shift risks. Its gain-on-sale lending model depends on investors continuing to buy its auto-loan pools, so a credit downturn or tighter securitization markets would hit profits quickly. The stock is highly volatile (shares fell sharply after Q2 2026 guidance despite record results), and the business has close related-party ties to DriveTime and Bridgecrest, both controlled by Ernest Garcia II, which short sellers have repeatedly questioned. Scaling reconditioning capacity fast enough to keep 40%-plus unit growth without hurting margins is the main operating challenge in 2026.
Carvana CEO and Leadership FAQ
Who is the CEO of Carvana and when did he assume the role?
Ernest Garcia III (Ernie Garcia) has served as Chief Executive Officer and President of Carvana since co-founding the company in 2012, leading Carvana through its 2017 IPO and the 2023 operational turnaround.
What is Ernie Garcia III's educational and professional background?
Ernie Garcia III graduated with a Bachelor of Science in Management Science and Engineering from Stanford University in 2005. He worked as an associate in equity derivatives at RBS before joining DriveTime Automotive Group, where he incubated Carvana.
Who were Ernie Garcia's co-founders at Carvana?
Ernie Garcia III co-founded Carvana alongside Ryan Keeton (Chief Brand Officer) and Ben Huston (Chief Operating Officer), who worked together at Stanford and DriveTime to build Carvana's original e-commerce and logistics platform.
How did Ernie Garcia lead Carvana through the 2022-2023 debt restructuring?
Faced with soaring interest rates and heavy debt from the ADESA purchase, Ernie Garcia spearheaded a 3-step operational turnaround: achieving positive unit economics, reducing operational SG&A by $1 billion+, and executing a $5.2 billion debt restructuring.
What is Ernie Garcia III's voting control in Carvana Co.?
Through Carvana's dual-class share structure (Class B common shares carrying 10 votes per share), CEO Ernie Garcia III and his father Ernest Garcia II maintain majority voting control over Carvana's corporate decisions and board elections.
What personal financial commitments has Ernie Garcia III made to Carvana?
In 2020 and 2022, Ernie Garcia III and his family pledged and invested hundreds of millions of dollars of personal capital into Carvana equity offerings to support the company's liquidity and demonstrate alignment with shareholders.
What awards and industry recognitions has Ernie Garcia III received?
Ernie Garcia III has been named to Fortune's '40 Under 40' list and recognized as an Ernst & Young Entrepreneur of the Year for pioneering digital automotive e-commerce and reinventing the car-buying consumer experience.
What is Ernie Garcia III's management philosophy for Carvana's workplace culture?
Ernie Garcia's management philosophy centers on extreme ownership, intellectual honesty, data-driven experimentation, customer-first obsession, and fostering a resilient culture capable of executing high-speed operational pivots.
Who is the CEO of Carvana?
Ernie Garcia III serves as the CEO. He has faced massive scrutiny over the company's volatile financials, as well as the heavy involvement and massive stock sales executed by his father, Ernie Garcia II.
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