Management ChangeJul 31, 2026, 04:18 PM
CarMax EVP & Chief Innovation and People Officer Diane Cafritz to Depart
AI Summary
CarMax, Inc. announced that Diane Cafritz, Executive Vice President and Chief Innovation and People Officer, will be leaving the company effective December 31, 2026. Her severance agreement was amended to modify the calculation of her benefits, replacing a target annual bonus with her full-year actual fiscal year 2027 annual bonus. Additionally, Ms. Cafritz entered into a consulting agreement to provide services from January 1 to June 30, 2027, for $360,500, which also extends her non-solicitation and non-competition covenants by six months.
Key Highlights
- Diane Cafritz, EVP and Chief Innovation and People Officer, will depart CarMax.
- Her departure is effective December 31, 2026.
- Severance agreement modified to remove target annual bonus from calculation.
- Ms. Cafritz will receive her full-year actual fiscal year 2027 annual bonus.
- Entered into a consulting agreement for services from January 1 to June 30, 2027.
- Consulting agreement extends non-solicitation and non-competition covenants by six months.
- Consulting services compensation totals $360,500, half of her current annual base salary.
Price Impact
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