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Costco announced that CEO Craig Jelinek will retire from the role on January 1, 2024. He will be succeeded by Ron Vachris, Costco's president/COO.
Costco said that Jelinek "will remain with Costco through April 2024, serving in an advisory role and assisting Ron during the transition. Craig will also continue to serve on the Board of Directors and will stand for reelection at the January 2024 annual meeting."
Jelinek ascended to the role of COO in 2012, when he succeeded company co-founder Jim Sinegal. At the time, he was Costco's president/COO.
Costco said that before taking on his current role, Vachris "served as Executive Vice President of Merchandising from June 2016 to January 2022, as Senior Vice President of Real Estate Development from August 2015 to June 2016, and Senior Vice President, General Manager of the Northwest Region, from 2010 to July 2015. He spent the previous 28 years in various management positions in warehouse operations."
- KC's View:
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Which is to say that Costco - a model of consistent management and leadership - is in good, experienced hands.
