Austin Ligon
Encyclopedia
William Austin Ligon is the co-founder and retired CEO of CarMax
, Inc. He retired in June 2006, and is now a private angel-stage investor. Among his recent investments are Gazelle.com; Redfin
.com; Zigmo; Café Caturra; and MotorExchange India.
CarMax
, Inc. is the U.S.'s largest retailer of used cars. The company operates 103 used car superstores in 49 markets throughout the country. CarMax will sell nearly 600,000 retail and wholesale cars, and record total revenues of nearly $9 billion in the current fiscal year. At over $85 million in sales per store, CarMax used car superstores are among the highest volume retail stores in the U.S. CarMax, Inc. is a Fortune 500 company traded on the New York Stock Exchange
(KMX) and was named one of Fortune’s “100 Best Companies to Work For” for the sixth consecutive year in 2010.
Ligon and Rick Sharp, then Circuit City Stores CEO, developed the CarMax idea together in 1991 and launched the first CarMax store in Richmond, Virginia
, in 1993. Austin became president of CarMax in 1995. He led the company through a decade and a half of rapid growth, including its IPO as a tracking stock of Circuit City in 1997. He added the title of CEO upon the company’s spin off from Circuit City in 2002. Ligon came to Circuit City from Marriott Corporation where he had been senior vice president of strategic planning for Marriott Hotels and Resorts. He joined Marriott in 1984 as director of corporate planning, and served as vice president of both marketing and concept general management in the family restaurant division.
Ligon was previously a senior consultant for the Boston Consulting Group
in London
, England
, from 1980 to 1983 and an independent financial consultant in Bangkok
, Thailand
during 1983-84. He worked as a health economist in Dallas and San Antonio during 1976-78, and was a Teaching Fellow in economics at the University of Texas, Austin from 1973 to 1976.
The primary focus of Ligon’s community involvement is education. He is a member of the governing boards of the University of Virginia
, the University of Virginia Investment Management Company (UVIMCO), and St. John’s College (Annapolis and Santa Fe). He is advisory board chairman of the Center for Talented Youth
(CTY) at Johns Hopkins University
, and an advisory board member of the Yale School of Management. He serves on the board of several venture start-up companies.
Ligon earned a B.A. in 1973 from the Plan II Honors program at the University of Texas at Austin
, where he was elected to Phi Beta Kappa and a member of The Tejas Club. He recently received a lifetime achievement award at The Tejas Club's 85th anniversary in October 2010. He studied at the Pontificia Universidad Catolica del Peru in Lima, Peru in 1972/73. He subsequently earned his M.A. in Economics in 1978 from the University of Texas at Austin
, and an M.B.A. in 1980 from the Yale School of Management
. He is married to Samornmitr Lamsam, a native of Thailand
; they have three children.
CarMax
CarMax is the United States' largest used-car retailer and a Fortune 500 company. The first CarMax used car auto superstore was opened in September 1993. In the fiscal year ending February 28, 2009, more than 350,000 cars were sold; as of August 2010 the company has 103 locations.- Concept :The...
, Inc. He retired in June 2006, and is now a private angel-stage investor. Among his recent investments are Gazelle.com; Redfin
Redfin
Redfin is an online real estate brokerage, currently available in the Atlanta, Austin, Boston, Chicago, Dallas, Denver, Las Vegas, Los Angeles, Orange County, Phoenix, Portland, Sacramento, San Diego, San Francisco Bay, Seattle, and Washington, D.C areas. Redfin combines a real estate search site...
.com; Zigmo; Café Caturra; and MotorExchange India.
CarMax
CarMax
CarMax is the United States' largest used-car retailer and a Fortune 500 company. The first CarMax used car auto superstore was opened in September 1993. In the fiscal year ending February 28, 2009, more than 350,000 cars were sold; as of August 2010 the company has 103 locations.- Concept :The...
, Inc. is the U.S.'s largest retailer of used cars. The company operates 103 used car superstores in 49 markets throughout the country. CarMax will sell nearly 600,000 retail and wholesale cars, and record total revenues of nearly $9 billion in the current fiscal year. At over $85 million in sales per store, CarMax used car superstores are among the highest volume retail stores in the U.S. CarMax, Inc. is a Fortune 500 company traded on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
(KMX) and was named one of Fortune’s “100 Best Companies to Work For” for the sixth consecutive year in 2010.
Ligon and Rick Sharp, then Circuit City Stores CEO, developed the CarMax idea together in 1991 and launched the first CarMax store in Richmond, Virginia
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
, in 1993. Austin became president of CarMax in 1995. He led the company through a decade and a half of rapid growth, including its IPO as a tracking stock of Circuit City in 1997. He added the title of CEO upon the company’s spin off from Circuit City in 2002. Ligon came to Circuit City from Marriott Corporation where he had been senior vice president of strategic planning for Marriott Hotels and Resorts. He joined Marriott in 1984 as director of corporate planning, and served as vice president of both marketing and concept general management in the family restaurant division.
Ligon was previously a senior consultant for the Boston Consulting Group
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
, from 1980 to 1983 and an independent financial consultant in Bangkok
Bangkok
Bangkok is the capital and largest urban area city in Thailand. It is known in Thai as Krung Thep Maha Nakhon or simply Krung Thep , meaning "city of angels." The full name of Bangkok is Krung Thep Mahanakhon Amon Rattanakosin Mahintharayutthaya Mahadilok Phop Noppharat Ratchathani Burirom...
, Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
during 1983-84. He worked as a health economist in Dallas and San Antonio during 1976-78, and was a Teaching Fellow in economics at the University of Texas, Austin from 1973 to 1976.
The primary focus of Ligon’s community involvement is education. He is a member of the governing boards of the University of Virginia
University of Virginia
The University of Virginia is a public research university located in Charlottesville, Virginia, United States, founded by Thomas Jefferson...
, the University of Virginia Investment Management Company (UVIMCO), and St. John’s College (Annapolis and Santa Fe). He is advisory board chairman of the Center for Talented Youth
Center for Talented Youth
The Center for Talented Youth is a gifted education program for school-age children, founded in 1979 by Dr. Julian Stanley at Johns Hopkins University. It was initially a research study of the rate at which gifted children can learn new material and became the first program of its kind to identify...
(CTY) at Johns Hopkins University
Johns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
, and an advisory board member of the Yale School of Management. He serves on the board of several venture start-up companies.
Ligon earned a B.A. in 1973 from the Plan II Honors program at the University of Texas at Austin
University of Texas at Austin
The University of Texas at Austin is a state research university located in Austin, Texas, USA, and is the flagship institution of the The University of Texas System. Founded in 1883, its campus is located approximately from the Texas State Capitol in Austin...
, where he was elected to Phi Beta Kappa and a member of The Tejas Club. He recently received a lifetime achievement award at The Tejas Club's 85th anniversary in October 2010. He studied at the Pontificia Universidad Catolica del Peru in Lima, Peru in 1972/73. He subsequently earned his M.A. in Economics in 1978 from the University of Texas at Austin
University of Texas at Austin
The University of Texas at Austin is a state research university located in Austin, Texas, USA, and is the flagship institution of the The University of Texas System. Founded in 1883, its campus is located approximately from the Texas State Capitol in Austin...
, and an M.B.A. in 1980 from the Yale School of Management
Yale School of Management
The Yale School of Management is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers Master of Business Administration and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA...
. He is married to Samornmitr Lamsam, a native of Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
; they have three children.