Costco CEO Craig Jelinek to step down Jan 1, 2024; Ron Vachris named successor

COSTCO WHOLESALE CORP /NEW

Craig Jelinek steps down as CEO effective Jan 1, 2024; remains on board and advisory role through April 2024.
Ron Vachris, current President and COO, elected President and CEO effective Jan 1, 2024; he has over 40 years at Costco.
Vachris to receive fiscal 2024 base salary of $1.15M and RSUs valued at $10.4M, with performance conditions set in November 2023.
Board declares quarterly dividend of $1.02 per share, payable Nov 17, 2023 to holders of record Nov 3, 2023.

item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Craig Jelinek

Chief Executive Officer

COST · COSTCO WHOLESALE CORP /NEW

Effective: 2024-01-01
Successor: Ron Vachris
Filed: October 20, 2023, 7:59 PM ET

Craig Jelinek’s intention to step down as Chief Executive Officer, effective January 1, 2024.

Appointed

Ron Vachris

President and Chief Executive Officer

COST · COSTCO WHOLESALE CORP /NEW

Effective: 2024-01-01
Filed: October 20, 2023, 7:59 PM ET

The Board of Directors has elected Ron Vachris, currently President and Chief Operating Officer, as President and Chief Executive Officer effective January 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig Jelinek departed as Chief Executive Officer at COSTCO WHOLESALE CORP /NEW.

Action: step down
Role: Chief Executive Officer

Exact text from the filing

Craig Jelinek’s intention to step down as Chief Executive Officer, effective January 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ron Vachris was elected as President and Chief Executive Officer at COSTCO WHOLESALE CORP /NEW.

Action: elected
Role: President and Chief Executive Officer

Exact text from the filing

The Board of Directors has elected Ron Vachris, currently President and Chief Operating Officer, as President and Chief Executive Officer effective January 1, 2024.

View on SEC.gov

COSTCO WHOLESALE CORP /NEW filing history →

Source: SEC EDGAR

accession 0000909832-23-000047

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