Consumer >> CEO Interviews >> November 2, 1998
RICHARD L. SHARP is Chairman and Chief Executive Officer of Circuit City
Stores, Inc. In this position, he is responsible for three rapidly
growing businesses. With almost $8 billion in sales and more than 500
Superstores nationwide, Circuit City is the nation's largest retailer of
personal computers and music software. In 1993 the company pioneered the
used-car superstore concept with the opening of its first CarMax
location. CarMax sales totaled $874 million last year; expansion
continues with approximately 10 stores this year and another 10 next
year. The company has also introduced Digital Video Express, LP, a
partnership that has developed and will market the new Divx home video
system: the best way to watch movies at home. Mr. Sharp joined Circuit
City in November 1982 as Executive Vice President. He was elected
President in June 1984, Chief Executive Officer in June 1986 and
Chairman in June of 1994. Mr. Sharp founded Applied Systems Corporation
in 1975 building on his early career experience in the computer hardware
and software engineering fields. Applied developed custom hardware and
software business systems using mini-and micro-computer technology.
Sharp served as President of Applied until it was acquired by Tymshare,
Inc., in 1981 and subsequently served as Vice President of Tymshare,
Inc. until joining Circuit City. Mr. Sharp studied electrical
engineering at the University of Virginia and computer science at The
College of William and Mary. In 1985, he completed the Harvard Business
School's Advanced Management Program. Mr. Sharp also serves on the
boards of Flextronics International, Ltd. and Fort James Corporation. He
participates in numerous professional and civic organizations including
the Virginia Business Council, the International Mass Retail Association
and the National Retail Federation. He is a long-term advocate for
public educational reform for grades K-12. Board memberships include the
University of Richmond Board of Trustees, Richmond Eye and Ear Hospital,
Virginia Cystic Fibrosis Foundation, Boys and Girls Clubs of Richmond,
Richmond Renaissance, River Road United Methodist Church, the Science
Museum of Virginia Foundation and Virginia Commonwealth University
School of Engineering Foundation. Profile
today?
Mr. Sharp: Circuit City is in an enviable position today as the only
national value added specialty retailer of
