CarMax will have a new president and CEO next month.

The used-car retailer announced Thursday that former InterContinental Hotels Group CEO Keith Barr has been appointed to the role, which he will begin on March 16.

Barr will also join CarMax’s board.

David McCreight, who is current interim president and CEO, will move back to his prior duties as an independent director of the board. Tom Folliard will remain interim executive chair of the board until the company’s annual meeting in June. At that point, Folliard is expected to resume prior duties as non-executive chair of the board.

“The board and I are thrilled to welcome Keith to CarMax. His decades of leadership experience and proven ability to enhance the customer experience, lead digital transformations, build brand loyalty, and effectively integrate online and physical properties make Keith the right choice to lead CarMax through a critical juncture and drive the company’s next chapter of growth,” Folliard said in a news release.

“Keith’s values-based approach to leadership will enhance CarMax’s award-winning people-first culture, and he has demonstrated a clear ability to drive profitable sales growth alongside an unwavering focus on the consumer.”

In early November, CarMax  announced a leadership transition that was set to begin Dec. 1. Bill Nash, who had been CEO since August 2016, stepped down from his leadership post and from the board of directors.

McCreight became interim president and CEO, and Folliard, who was CEO from 2006-2016 and has been with CarMax for 30 years, was named interim executive chair of the board.

“We are grateful to David for stepping into the role of Interim CEO over the past several months. As we conducted a thorough search for the right leader for CarMax’s next phase, David’s leadership was vital to strengthen the business in the near-term and solidify the foundation from which we will grow,” Folliard said.

Barr added: “I am honored to join CarMax and lead this iconic organization alongside our talented associates. A car is one of the most important purchases American families make, and today’s consumer is increasingly seeking value and a customized shopping experience.

“I believe the large and highly fragmented used vehicle market is only in the early innings of meeting the needs of the modern consumer. CarMax is uniquely positioned to capture this opportunity by delivering the best value and service across both in-person and online channels, leveraging its transparent pricing, extensive inventory, and flexibility to shop however customers prefer. I’m excited to lead this great company into its next chapter of growth, building on more than three decades of market leadership.”