Lates News

Rights-protecting investor Starboard has acquired $350 million worth of shares in CarMax, the largest used car retailer in the United States. Starboard believes that under the leadership of incoming CEO Keith Barr, this used car retailer has the potential to accelerate its transformation. Starboard hopes to use its investment experience in the automotive trading market to improve CarMax's performance. Starboard believes that CarMax can enhance its performance by improving customer experience and reducing management and operational expenses by over $300 million.