Starboard CEO Smith Discusses CarMax Stake, Board Seats

Jeff Smith, CEO of Starboard Value, joins Dani Burger on "Bloomberg Deals" to discuss Starboard's $350 million stake in CarMax. Starboard Value has amassed a stake of about $350 million in CarMax and sees an opportunity to accelerate the used car retailer's turnaround under incoming CEO Keith Barr. The activist investor has nominated its own CEO Jeff Smith to the CarMax board.