Skip Falgout is a seasoned, experienced corporate executive with a unique background as a corporate attorney specializing in mergers and acquisitions as well as federal securities law. Mr. Falgout transitioned this background into the senior executive positions as the Chief Executive Officer and Chairman of the Board of America's Car-Mart, the largest U.S. publically traded automotive retailer focused exclusively in the integrated sales and finance segment of the used car industry. Under Mr. Falgout' s leadership, Car-Mart grew from 29 dealerships to over 110 today, with an increase in annual revenues from $65 million to $400 million. During his tenure, Car-Mart's market capitalization surged from $36 million to more than $350 million, with the stock price increasing from $3 a share to over $30. While guiding Car-Mart's growth and expansion, Mr. Falgout maintained the core business model and culture, simultaneously bringing in talented managers and upgrading Car-Mart's technology to manage the growth and scalability of the business.
Mr. Falgout stepped down as Chairman of America's Car-Mart in the fall of 2011, and has recently served on the board of directors of INX,Inc., a NASDAQ traded technology company which successfully went private in late 2011. He is currently a shareholder and member of the Advisory Board of Sovereign Bank, a regional bank with branches in Dallas, Ft. Worth, Austin and Houston, Texas. Mr. Falgout also is an active owner of a recreational boat dealership in Austin, Texas and has other business and real estate investments that he oversees.
Mr. Falgout received his B.A. in Economics from Tulane University, where he also obtained his Doctorate in Jurisprudence and was a member of the Board of Editors of the Tulane Law Review.