Eller College Honors Carvana Founder Ernie Garcia as Executive of the Year
Karthik Kannan, Ernie Garcia and Suresh Garimella
On April 4, The Eller College of Management hosted the prestigious Executive of the Year event, honoring Ernie Garcia, CEO and founder of Carvana, for his entrepreneurial journey and business leadership.
Before founding Carvana, Garcia held various roles at the DriveTime Automotive Group, Inc., including managing director of corporate finance, vice president and treasurer, and director of quantitative analytics. In 2016, he was named EY Entrepreneur of the Year in the Mountain Desert region for the consumer technology category. Garcia’s influence extends beyond business success to meaningful contributions to both the local community and across the country.
The day began with a fireside chat at McClelland Hall, where Garcia met with current Eller students. Associate Dean of Partnerships, Anastasiya Ghosh moderated the session, guiding an engaging conversation about Garcia's path to success. Students had the opportunity to ask questions directly, gaining valuable insights from Garcia.
Following the fireside chat, community members gathered at the Tucson Marriott University Park for the Executive of the Year Luncheon. The event featured addresses from key University of Arizona leaders, including Eller College Dean and Halle Chair in Leadership, Karthik Kannan and University President Suresh Garimella, who highlighted Garcia's achievements and contributions to the business world.
In his speech, Garcia candidly shared the challenges he faced while building Carvana, including navigating through a dramatic 98 percent stock price drop in 2022. His resilience and strategic vision ultimately led to the company's recovery and continued success in transforming the automotive retail industry.
The Executive of the Year award recognizes an executive whose leadership has not only driven their organization to new heights but has also set a remarkable example in their industry. Garcia has a proven ability to inspire teams, foster growth, and introduce forward-thinking strategies that reshape the industry landscape. Garcia joins a prestigious group of executives including Sam Fox, CEO and founder of Fox Restaurant Concepts Janet Napolitano, former U.S. Secretary of Homeland Security and former Arizona Governor, Larry Baer, president and CEO of the San Francisco Giants, former U.S. Secretary of Defense Robert Gates, Starbucks CEO Howard Schultz, and Kent McClelland, Chairman and CEO of Shamrock Foods Company.
