New CEO at Helm of Costco

Costco President Ron Vachris Named CEO

Costco's CEO, Craig Jelinek, is stepping down after 11 years in the position and will be replaced by the current president and COO, Ron Vachris, starting January 1, 2024.
Both Jelinek and Vachris have a long history with Costco, having started at the company in the early 1980s, and working their way up through various leadership roles.
Under Jelinek's leadership, Costco grew into a $254 billion retail giant, with share prices rising 30% less than two years after he took the top job and five-fold thereafter.
Vachris has been with Costco for over 40 years, starting off as a forklift driver and taking on major roles in merchandising and operations before becoming COO in 2022.
Jelinek advocated for raising the federal minimum wage and maintaining affordable benefits for Costco employees, while also keeping membership prices consistent.