On October 19, 2026, CarMax, Inc. filed an 8-K report with the Securities and Exchange Commission (SEC) announcing the appointment of Darren W. Woodell as Vice President, Controller, and Chief Accounting Officer. This appointment is significant as it highlights leadership changes within the company, which may impact its financial strategies and operations.

CarMax, Inc., a Virginia-based company, is the largest retailer of used cars in the United States. The company operates a chain of used car superstores and is known for its customer-friendly buying process. The 8-K form is a current report that companies must file with the SEC to announce major events that shareholders should know about, including changes in executive leadership.

The filing states, "On October 19, 2026, CarMax, Inc. appointed Darren W. Woodell as Vice President, Controller and Chief Accounting Officer, and principal accounting officer of the Company, effective November 11, 2026." Mr. Woodell will take over the principal accounting officer role from Enrique N. Mayor-Mora, who will remain as the Executive Vice President and Chief Financial Officer.

Mr. Woodell, age 50, has a solid background in finance, having served as Vice President and Controller at Genworth Financial, Inc. since February 2024. His experience includes various roles at Genworth since 2010, including Assistant Controller and Director of Financial Reporting. Additionally, he has worked at Lumber Liquidators, Inc. and Ernst & Young, LLC. He is a licensed Certified Public Accountant in Virginia and Florida.

In terms of compensation, the filing indicates that Mr. Woodell will receive an annual base salary of $385,000, along with a corporate bonus of $175,000 payable in May 2027. He will also be eligible for a target annual incentive bonus equal to 50% of his base salary, participate in the company’s stock incentive program, and receive a sign-on bonus of $100,000. Furthermore, he will receive stock-settled restricted stock units valued at $330,000, which will vest on the third anniversary of the grant date.

The filing clarifies that there are no arrangements or understandings between Mr. Woodell and any other persons regarding his selection as an officer. He has no family relationships with any of the company’s directors or executive officers, and he has no material interest in any transactions that require disclosure.

This leadership change may affect CarMax's operations and financial reporting, particularly as Mr. Woodell steps into a role that oversees the company's accounting practices. Investors and stakeholders will be watching how this transition impacts the company's financial health and strategic direction.

The filing does not specify what happens next regarding further changes or updates within the company.