Company Announces Scholarship to Honor Rick Sharp
RICHMOND, Va.--(BUSINESS WIRE)--May. 6, 2013--
Nearly 20 years after CarMax, Inc., (NYSE: KMX), opened its doors at the
first store in Richmond, Va., the company honored its founder and
retired board chairman,
Rick Sharp
, today in a store dedication
ceremony. The company also announced the establishment of a $250,000
endowment to the Community Foundation to fund the CarMax-Rick Sharp
Entrepreneur Scholarship.
“Rick’s influence and commitment to integrity, community giving and
transparency continue to be guiding principles at CarMax,” said
Tom
Folliard
, president and CEO of CarMax. “The scholarship will continue
Rick’s legacy and help future entrepreneurs from Richmond lead the next
generation of big ideas.”
While serving as president and CEO of Circuit City Stores, Sharp led a
team that created the revolutionary used car retail concept of CarMax.
Sharp’s vision became reality when the first CarMax store opened on West
Broad Street in 1993. CarMax’s unique consumer offer is built on a
transparent, no-haggle process.
The naming of the scholarship and building recognizes Sharp’s
extraordinary contributions to the company and his philanthropic efforts
in the Richmond-Metro area. Sharp served as a volunteer and board member
to many local non-profit and for-profit community groups including The
Boys and Girls Clubs of Metro Richmond, Johns Hopkins Medicine Board of
Advisors, University of Virginia Health Foundation, and the VCU School
of Engineering Foundation. Sharp and his family are currently involved
in the Stay Sharp Fund, established two years ago by Sharp's daughters,
Donna Suro
and
April Garnett
. Stay Sharp Fund was created to promote
awareness and support research for Alzheimer's disease (www.staysharpfund.org).
The Community Foundation is selected to receive the endowment to fund
the CarMax-Rick Sharp Entrepreneur Scholarship. The scholarship is
expected to be awarded annually through a competitive process based on
academic performance and financial need to graduating high school
seniors in the greater Richmond area. This area includes the cities of
Richmond, Petersburg and Hopewell, and the counties of Chesterfield,
Goochland, Hanover, and Henrico counties.
During the ceremony, the company unveiled a bronze plaque featuring
Sharp to be mounted at the entrance of the store. A permanent plaque in
the waiting area will also share the leader’s contributions and CarMax
history –educating customers and future associates on Sharp’s
contributions for generations to come.
CarMax is sharing photos and videos from today’s event on the company Facebook
page and through Twitter.
About CarMax
CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the
FORTUNE 2013 “100 Best Companies to Work For,” is the nation’s largest
retailer of used cars. Headquartered in Richmond, Va., CarMax currently
operates 120 used car superstores in 60 markets. The consumer offer
features low, no haggle prices, a broad selection of CarMax Quality
Certified used cars, and superior customer service. During the twelve
months ended February 28, 2013, the company retailed 447,728 used cars
and sold 324,779 wholesale vehicles at our in-store auctions. For more
information, access the CarMax website at www.carmax.com.
Source: CarMax, Inc.
Media Contacts
Trina Lee,
Public Affairs and Communications Director, (855) 887-2915
Britt
Farrar, Public Relations Manager, (855) 887-2915
Twitter: @CarMax,
Facebook: facebook.com/CarMax