Richard Sharp, former chairman and CEO of Circuit City, died Tuesday night from posterior cortical atrophy, a rare form of Alzheimer's disease. He was 67.
During Sharp's tenure, sales at Circuit City went from less than $1 billion in 1986 to an estimated $12 billion, with more than 600 stores when he stepped down as CEO in 2000.
Sharp was the driving force behind CarMax and shepherded the used car superstore concept from a much criticized division to stand-alone company with 136 locations. CarMax was once considered folly, launching during the first tech bubble when consumers were more interested in new luxury vehicles than used cars. It was a concept born before its time, Sharp told this reporter. One day the pendulum would swing back and used cars would be in demand.
Sharp was an inventor, investor and retailer. Story