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Circuit City CEO and CarMax founder passes away
Richard Sharp, 67, the long-time CEO of Circuit City who founded used car retailer CarMax has died of Alzheimer’s disease at his home near Richmond, Virginia.
Sharp joined Circuit City in 1982 and served as CEO of the company from 1986 to 2000. Under his leadership, Circuit City enjoyed meteoric growth with sales that increased from $175 million in 1986 to more than $10 billion by 2000. Eight years after he had left the company, Circuit City filed for bankruptcy in 2008 and the following year was liquidated.