Richard L. Sharp

Who is Richard L. Sharp?

Under Richard Sharp, Circuit City grew from a company

with 50 stores and $500 million in sales to become one

of the nation’s largest electronics retailers.

Sharp joined Circuit City as executive vice president

in 1982. In less than two years, he was named president

and became CEO in 1986. The company focused on “category

killer” superstores providing shoppers with a wide

selection of consumer electronics products. Circuit City’s

sales now top $11 billion.

In 1993, Sharp re-invented the

used-car business by starting CarMax, a no-hassle

chain of used-car superstores. Today,

Richmond-based CarMax has grown into the country’s

largest retailer for used cars, operating 67 superstores

in 31 markets generating revenues of more than $6 billion.

Sharp tried to revolutionize another industry in the

late 1990s with the introduction of the Divx, video disk

system. The product, however, failed to catch on and

was dropped in 1999. He has had better luck recently

with Crocs, a new footwear company that raised millions

in its February initial public offering.

Sharp retired as Circuit City’s

CEO in 2000 and stepped down as chairman in 2002.

He remains chairman

of CarMax. Sharp is a member of the Greater Richmond

Business Hall of Fame.