CarMax 2011 Annual Report Download - page 87

Download and view the complete annual report

Please find page 87 of the 2011 CarMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

77
Part III
With the exception of the information incorporated by reference from our 2011 Proxy Statement in Items 10, 11, 12,
13 and 14 of Part III of this Annual Report on Form 10-K, our 2011 Proxy Statement is not to be deemed filed as a
part of this Form 10-K.
Item 10. Directors, Executive Officers and Corporate Governance.
The following table identifies our executive officers as of February 28, 2011. We are not aware of any family
relationships among any of our executive officers or between any of our executive officers and any directors. All
executive officers are elected annually and serve for one year or until their successors are elected and qualify. The
next election of officers will occur in June 2011.
Name
Age
Office
Thomas J. Folliard ...................................................
46
President, Chief Executive Officer and Director
Keith D. Browning ..................................................
58
Executive Vice President, Finance and Director
Michael K. Dolan ....................................................
61
Executive Vice President and Chief Administrative
Officer
Joseph S. Kunkel .....................................................
48
Senior Vice President, Marketing and Strategy
Eric M. Margolin .....................................................
57
Senior Vice President, General Counsel and Corporate
Secretary
Thomas W. Reedy ...................................................
46
Senior Vice President and Chief Financial Officer
Richard M. Smith ....................................................
53
Senior Vice President and Chief Information Officer
William C. Wood, Jr. ...............................................
44
Senior Vice President, Sales
Mr. Folliard joined CarMax in 1993 as senior buyer and became director of purchasing in 1994. He was promoted
to vice president of merchandising in 1996, senior vice president of store operations in 2000 and executive vice
president of store operations in 2001. Mr. Folliard became president and chief executive officer and a director of
CarMax in 2006.
Mr. Browning joined CarMax in 1996 as vice president and chief financial officer after spending 14 years at Circuit
City, his last position being corporate controller and vice president. He has been involved in the development of
accounting procedures, systems and internal controls for CarMax since its inception. Mr. Browning was promoted
to executive vice president and chief financial officer in 2001, and in 2010, he was named executive vice president,
finance. He has served as a director of CarMax since 1997.
Mr. Dolan joined CarMax in 1997 as vice president and chief information officer. He was named senior vice
president in 2001 and was promoted to executive vice president and chief administrative officer in 2006. Mr. Dolan
had prior executive experience in information systems with H.E. Butt Grocery Company, a privately held grocery
retailer, where he was vice president and chief information officer.
Mr. Kunkel joined CarMax in 1998 as vice president, marketing and strategy. Mr. Kunkel was named senior vice
president in 2001. Prior to joining CarMax, Mr. Kunkel was president of Wholesome Kidfoods, Inc. and a senior
manager with McKinsey and Company.
Mr. Margolin joined CarMax in 2007 as senior vice president, general counsel and corporate secretary. Prior to
joining CarMax, he was senior vice president, general counsel and corporate secretary with Advance Auto Parts,
Inc. and vice president, general counsel and corporate secretary with Tire Kingdom, Inc.
Mr. Reedy joined CarMax in 2003 as its vice president and treasurer and, in January 2010, was promoted to senior
vice president, finance. In October 2010, Mr. Reedy was promoted to senior vice president and chief financial
officer. Prior to joining CarMax, Mr. Reedy was vice president, corporate development and treasurer of Gateway,
Inc., a technology retail company.
Mr. Smith was the first full-time associate of CarMax, having worked on the original CarMax concept while at
Circuit City in 1991. He has held various positions in technology and operations throughout his tenure with CarMax
and was promoted to vice president, management information systems, in 2005. He was promoted to senior vice
president and chief information officer in 2006.