Richard Sharp (executive)

Richard L. "Rick" Sharp (April 12, 1947 – June 24, 2014) was an American business and retail executive who served as the CEO of Circuit City, a former consumer electronics retail chain, from 1986 to 2000. In 1993, Sharp co-founded CarMax, the largest used car retailer in the United States, which grew to more than 135 locations with revenue of $12.5 billion by 2013.[1][2] He was also a founding investor and member of the board of directors of Crocs, a footwear company.[1]

Early life and education

Sharp was born in Washington D.C., on April 12, 1947, and raised in nearby Alexandria, Virginia.[1][2] He graduated from the former George Washington High School in Alexandria in 1965.[2] Sharp attended the University of Virginia, where he studied electrical engineering during the middle of the 1960s. However, he dropped out to pursue computer science, a program which was not offered by the University of Virginia at the time.[2] He later explained to the Richmond Times-Dispatch that he lost interest in the original major, "One semester, I went to class and I got B grades. The second semester, I had no interest."[2] Sharp initially spent much of his time playing pool and poker.[2]

Career

Sharp founded a computer hardware and software business development company when he was just 27 years old.[2]

He was first hired by Circuit City as an executive vice president in 1982.[2][3] He served as Circuit City's chief executive from 1986 to 2000. Under Sharp, Circuit City's annual revenue grew from $175 million to 10.6 billion during his fourteen-year tenure.[2] The number of brick-and-mortar stores also increased from 69 in 1988 to more than 600 locations by 2000.[3] Sharp also moved Circuit City from its core consumer electronics business into new ventures, such as home security.[2]

Personal life

Diagnosed with early-onset posterior cortical atrophy, a rare form of Alzheimer's disease, in October 2010, Sharp was an advocate for research on the disease.[1][3] His grandfather, father and uncle had also suffered from early-onset Alzheimer's.[3] Sharp and his wife, Sherry, donated more than $5 million for Alzheimer's research since 1999, most of which went to Johns Hopkins School of Medicine, where he was a member of its advisory board.[3]

Rick Sharp died from posterior cortical atrophy at his home in Goochland, Virginia, on June 24, 2014, at the age of 67.[2][3] He was survived by his wife of forty-five years, Sherry Sharp, their two daughters, and four grandchildren.