America’s Car-Mart, Inc. Names EVP, Procurement and Inventory

Rhea-AI Summary

America’s Car-Mart announced the appointment of Brian Stone as Executive Vice President of Procurement and Inventory, effective March 21, 2022. Stone brings over 20 years of experience from CarMax, where he held various senior roles, enhancing procurement and operational strategies.

The CEO, Jeff Williams, praised Stone's leadership and industry reputation, indicating his alignment with the company’s goals in data analysis, inventory management, and leveraging partnerships. This strategic move aims to capitalize on significant market growth opportunities.

Positive

• Appointment of Brian Stone as Executive VP of Procurement and Inventory could enhance operational efficiency.
• Brian Stone's extensive experience in vehicle procurement and operations could lead to improved inventory management.

Negative

• None.

Rogers, Arkansas, March 16, 2022 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) (the “Company”) today announced that the Company has named Brian Stone as Executive Vice President, Procurement and Inventory effective March 21, 2022.

Mr. Stone joins the Company with significant industry experience, including 20 years with CarMax, where he began in vehicle procurement and quickly progressed to senior roles, including vice president of operations, as well as vice president of strategy, mergers and acquisitions. Additionally, Mr. Stone has cofounded digital-heavy startup companies that involve ride sharing and purchasing cars from the public.

“Brian is an effective and proven leader with a great reputation in our industry,” said Jeff Williams, President and Chief Executive Officer of the Company. “His experience aligns well with our current initiatives regarding improvements through data analysis, reconditioning, inventory management, and leveraging industry partnerships, among other areas of focus. We are delighted to add Brian to our dedicated team and we look forward to the impact that he will have on our efforts to capitalize on significant market growth opportunities in the coming years.”

About America's Car-Mart

America’s Car-Mart operates automotive dealerships in twelve states and is one of the largest publicly held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market. The Company specializes in the sale of quality, pre-owned vehicles, and features flexible used car financing options for customers with bad credit, no credit, repossessions or even past bankruptcy and emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in smaller cities throughout the South-Central United States selling quality used vehicles and providing financing for substantially all of its customers. For more information about America’s Car-Mart, including investor presentations, please visit our website at www.car-mart.com.

FAQ

Who is Brian Stone in relation to America's Car-Mart?

Brian Stone has been appointed as the Executive Vice President of Procurement and Inventory at America's Car-Mart, effective March 21, 2022.

What previous experience does Brian Stone have before joining America's Car-Mart?

Brian Stone has over 20 years of experience at CarMax, where he held senior roles in operations and strategy.

What goals does America's Car-Mart have with Brian Stone's appointment?

America's Car-Mart aims to improve data analysis, inventory management, and leverage industry partnerships to capitalize on market growth opportunities.

When is Brian Stone starting his role at America's Car-Mart?

Brian Stone will commence his role as Executive Vice President on March 21, 2022.