Costco CEO to Step Down After Decade of Revenue Growth (1)

Costco Wholesale Corp. said Chief Executive Officer Craig Jelinek will step down after over a decade at the helm during which shares and revenue soared at the warehouse club retailer.

He’ll be succeeded by Chief Operating Officer Ron Vachris, who was elevated to the COO role in February 2022 and was considered a leading candidate for the CEO job. He started at the company 40 years ago as a forklift driver and has subsequently served “in every major role related to Costco’s business operations and merchandising activities,” Costco said in a statement.

Jelinek has led Costco since ...