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America’s Car-Mart Taps Ray Dillon for Board

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America’s Car-Mart Inc. of Bentonville said Monday that its board of directors nominated Ray C. Dillon for election as a new, independent director.

Dillon, 61, is the former president and CEO of Deltic Timber Corp. of El Dorado. He retired from the post late last year.

Dillon was nominated to replace Kenny Gunderman, whose term is expiring. Gunderman is CEO of Uniti Group Inc. of Little Rock. His compensation as a director, in cash and stock options, was $127,690 in the fiscal year that ended April 30, 2016, according to the most recent proxy statement Car-Mart has issued.

Since 2011, Dillon has been a director on the Little Rock Branch Board of the St. Louis Federal Reserve Bank and now serves as chairman of the Little Rock Branch Board. Other public board service includes time as an independent director of US Concrete from May 2009 until August 2010.

“America’s Car Mart is fortunate to have someone of Ray’s caliber as a nominee to our Board,” said William H. (“Hank”) Henderson, the company’s CEO. “Ray’s operational and financial experience and knowledge of our markets along with his desire to contribute to our efforts will be a significant benefit to us as we move forward.”

America’s Car-Mart (Nasdaq: CRMT) will vote on the nomination during its shareholders’ meeting later this summer. An official meeting date has not been announced. 

America’s Car-Mart, which operates 140 automotive dealerships in 11 states, is focused exclusively on the “buy here/pay here” segment of the used car market.

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