CarMax vs Samsung: Founders, CEOs and History
CarMax was founded in 1993 by Richard L. Sharp, Austin Ligon and is led by Keith Barr. Samsung was founded in 1969 by Lee Byung-chul and is led by Jun Young-hyun and Roh Tae-moon.
Company facts
Founders
CarMax
Richard L. Sharp
Richard L. Sharp was the Circuit City chief executive who conceived CarMax as an internal venture.
Austin Ligon
Austin Ligon led the Circuit City team that designed CarMax and ran the company from its 1993 launch in Richmond, Virginia until 2006.
Samsung
Lee Byung-chul
Lee Byung-chul founded Samsung Sanghoe in Daegu in 1938, trading dried fish, produce and noodles.
CEOs and their tenures
CarMax
- Austin Ligon1993–2006
Founding Chief Executive Officer
As the founding CEO, he fundamentally disrupted the predatory used car industry by pioneering the 'no-haggle', fixed-price superstore model.
Source - Tom Folliard2006–2016
Former President and Chief Executive Officer
During his decade as CEO, he formalized the highly lucrative CarMax Auto Finance division, which became a massive, stable profit engine for the company.
Source - Bill Nash2016–2025
Former President and Chief Executive Officer
As CEO, he navigated the extreme volatility of the post-pandemic used car market, maintaining profitability despite massive swings in wholesale vehicle prices.
Source - David McCreight2025–2026
Former Interim President and Chief Executive Officer
McCreight, a CarMax board member, served as interim CEO between Bill Nash's departure in late 2025 and Keith Barr's start in March 2026.
Source - Keith Barr2026–present
President and Chief Executive Officer
Barr became CEO on March 16, 2026 and launched the 'Shift into GEAR' strategy; in Q2 fiscal 2027 retail units rose 13.8% and EPS rose 81.3%.
Source
Samsung
- Jong-Hee Han2022–2025
Vice Chairman and CEO
A longtime TV business leader who helped keep Samsung the top global TV brand. He died suddenly in March 2025 while in office.
Source - Jay Y. Lee2022–present
Executive Chairman
Grandson of the founder and son of Lee Kun-hee. He was convicted in the 2017 bribery case and pardoned in 2022, and became Executive Chairman in October 2022. In 2025 the Supreme Court upheld his acquittal in the separate merger and accounting fraud case.
Source - Jun Young-hyun2024–present
Vice Chairman, Co-Chief Executive Officer, Head of Device Solutions
He implemented a complete overhaul of the semiconductor division's engineering processes, issuing a rare public apology in 2024 for the company's technological delays.
Source - Roh Tae-moon (TM Roh)2025–present
Co-Chief Executive Officer, Head of Device eXperience
As head of the MX (Mobile eXperience) division, he heavily integrated AI features (Galaxy AI) into the S-series flagship phones to combat Apple's dominance in the premium tier.
Source
Timeline: CarMax and Samsung side by side
1938Samsung
Samsung Group begins
Lee Byung-chul founded Samsung as a trading company before later generations expanded the group into electronics and industry.
1969Samsung
Samsung Electronics established
Samsung Electronics Industry Co. Ltd. was established as the group entered electronics manufacturing.
1977Samsung
Korea Semiconductor acquired
Samsung acquired Korea Semiconductor, a key step toward memory and component manufacturing leadership.
1991CarMax
Project X Conceived at Circuit City
Circuit City CEO Richard L. Sharp conceives 'Project X' to apply big-box retail practices to the used car industry. Austin Ligon is appointed to lead the project, beginning 18 months of planning and development.
1993CarMax
First CarMax Superstore Opens
CarMax opens its first store in Richmond, Virginia in September 1993, introducing posted no-haggle prices, flat per-car sales pay, inspected vehicles, and computer kiosks for searching inventory.
1993Samsung
New Management initiative
Lee Kun-hee launched the New Management push to raise quality, design, and global competitiveness.
1996CarMax
Multi-Market Expansion Begins
CarMax begins expanding beyond Richmond, opening additional superstores in the Southeast with standardized appraisal and reconditioning processes. The company establishes the operational playbook for national scaling.
1997CarMax
CarMax Tracking Stock Listed
Circuit City issues a tracking stock for its CarMax Group, giving public investors exposure to CarMax's growth while it remains part of Circuit City.
2002CarMax
Spin-Off from Circuit City
CarMax is separated from Circuit City through a tax-free transaction on October 1, 2002, becoming an independent, publicly traded company on the NYSE under ticker symbol 'KMX.' The spin-off allows focused management of the used vehicle business.
2005CarMax
Steady Expansion and CAF Growth
CarMax continues steady store openings and expands its product mix, including extended protection plans, while CarMax Auto Finance becomes a major profit contributor.
2008CarMax
Financial Crisis Navigation
CarMax navigates the global financial crisis by tightening CAF underwriting standards, reducing inventory exposure, and maintaining liquidity. The company emerges with increased market share as weaker competitors fail.
2013CarMax
Digital Investment
CarMax invests in e-commerce and mobile shopping tools as online research becomes central to used-car buying.
2017CarMax
Omnichannel Pilot
CarMax pilots omnichannel features including online reservations, financing pre-qualification, and home delivery, laying groundwork for its nationwide omni rollout.
2017Samsung
Harman acquisition closes
Samsung completed the Harman acquisition, expanding into connected car systems and premium audio.
2020CarMax
COVID-19 Digital Acceleration
The COVID-19 pandemic accelerates CarMax's digital transformation, with the company scaling home delivery, curbside pickup, and end-to-end online purchases to meet consumer demand for contactless transactions.
2021CarMax
Edmunds Acquisition
CarMax acquires the remaining interest in Edmunds Holding Company, valuing the car-research site at about $404 million, to strengthen its digital shopping and appraisal tools.
2022Samsung
Jong-Hee Han becomes CEO
Jong-Hee Han became CEO of Samsung Electronics Co. in 2022. A longtime TV business leader who helped keep Samsung the top global TV brand.
2023CarMax
Revenue Peak at $29.68 Billion
CarMax reports fiscal 2023 revenue of $29.68 billion, its peak to date, before higher interest rates and affordability pressure weigh on used-vehicle demand.
2024CarMax
Cost Discipline and Margin Focus
With revenue below the fiscal 2023 peak, CarMax focuses on margin protection, CAF underwriting discipline, and selective store growth.
2024Samsung
Jun Young-hyun becomes CEO
Jun Young-hyun became CEO of Samsung Electronics Co. in 2024. Head of the semiconductor (Device Solutions) division and memory business; sole CEO for part of 2025 after Han Jong-hee's death, then co-CEO with TM Roh from November 2025.
2025CarMax
CEO Bill Nash Departs; CAF Expands Credit Spectrum
Bill Nash's nine-year tenure as CEO ends in late 2025, with board member David McCreight serving as interim CEO. CAF expands into Tier 2 and Tier 3 lending and completes a $900 million non-prime securitization in Q3 fiscal 2026.
2025Samsung
TM Roh joins Young Hyun Jun as co-CEO
Samsung named TM Roh Head of Device eXperience and CEO, joining Young Hyun Jun as co-CEO.
2025Samsung
Annual revenue reaches ~$237B (KRW 333.6T)
Samsung Electronics reported ~$237 billion (KRW 333.6 trillion) in 2025 annual revenue and ~$31 billion (KRW 43.6 trillion) in operating profit.
2025Samsung
Roh Tae-moon (TM Roh) becomes CEO
Roh Tae-moon (TM Roh) became CEO of Samsung Electronics Co. in 2025. Longtime head of the mobile business.
2026CarMax
Keith Barr Becomes CEO
Keith Barr becomes President and CEO effective March 16, 2026, succeeding interim CEO David McCreight.
2026CarMax
FY2026 Revenue Falls to $25.881 Billion
CarMax reports fiscal 2026 revenue of $25.88 billion (down 1.8%) and net earnings of $247.3 million (down 50.6%), including a $141.3 million goodwill impairment.
2026CarMax
Shift into GEAR Drives Q2 FY2027 Rebound
CarMax reports Q2 fiscal 2027 revenue of $7.9 billion (up 19.5%), retail used units up 13.8%, and EPS of $1.16 (up 81.3%), and announces plans to resume share repurchases.
Acquisitions
Samsung
- FlaktGroup2025$1.7B
- Xealth2025Undisclosed
- Harman International2017$8B
- SmartThings2014$200M
Questions about CarMax vs Samsung
Who is the CEO of CarMax, Inc. and Samsung Electronics Co., Ltd.?
CarMax, Inc. is led by Keith Barr and Samsung Electronics Co., Ltd. is led by Jun Young-hyun and Roh Tae-moon. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was CarMax, Inc. founded vs Samsung Electronics Co., Ltd.?
Samsung Electronics Co., Ltd. was founded in 1969 — 24 years before CarMax, Inc., which was founded in 1993. Samsung Electronics Co., Ltd.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger CarMax, Inc..
How many employees does CarMax, Inc. have compared to Samsung Electronics Co., Ltd.?
CarMax, Inc. employs approximately 27,796 people, while Samsung Electronics Co., Ltd. employs approximately 259,149. Samsung Electronics Co., Ltd. has the larger workforce at 259,149 employees, compared to CarMax, Inc.'s 27,796. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are CarMax, Inc. and Samsung Electronics Co., Ltd. headquartered?
CarMax, Inc. is headquartered in United States and Samsung Electronics Co., Ltd. is headquartered in South Korea. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded CarMax, Inc. and Samsung Electronics Co., Ltd.?
CarMax, Inc. was founded by Richard L. Sharp, Austin Ligon. Samsung Electronics Co., Ltd. was founded by Lee Byung-chul.
Which company has a longer operating history — CarMax, Inc. or Samsung Electronics Co., Ltd.?
Samsung Electronics Co., Ltd. has been operating for approximately 57 years, making it the more established of the two companies. CarMax, Inc. has been in operation for around 33 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the CarMax vs Samsung overview