Costco CEO succession: Ron Vachris to become CEO Jan 1, 2024; Jelinek declines bonus

COSTCO WHOLESALE CORP /NEW

Ron Vachris will serve as President until Dec 31, 2023, then President and CEO starting Jan 1, 2024.
Vachris eligible for up to $621,333 blended bonus (sales + pre-tax income + ESG metrics).
Craig Jelinek steps down as CEO Dec 31, 2023; requested and receives no bonus for FY2024.
Other execs eligible for max $232k bonus: $80k sales, $80k pre-tax income, $40k ESG (quantitative + discretionary).
Bonus plan approved Nov 17, 2023; ESG metrics include diversity, resource consumption, and emissions targets.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Ron Vachris

President and Chief Executive Officer

COST · COSTCO WHOLESALE CORP /NEW

Effective: 2024-01-01
Filed: November 24, 2023, 6:59 PM ET

Ron Vachris will serve as President until December 31, 2023, and as President and Chief Executive Officer starting January 1, 2024.

Departed

Craig Jelinek

Chief Executive Officer

COST · COSTCO WHOLESALE CORP /NEW

Effective: 2023-12-31
Successor: Ron Vachris
Filed: November 24, 2023, 6:59 PM ET

Craig Jelinek, who will serve as Chief Executive Officer until December 31, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ron Vachris changed role as President and Chief Executive Officer at COSTCO WHOLESALE CORP /NEW.

Role: President and Chief Executive Officer

Exact text from the filing

Ron Vachris will serve as President until December 31, 2023, and as President and Chief Executive Officer starting January 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Role: Chief Executive Officer

Exact text from the filing

Craig Jelinek, who will serve as Chief Executive Officer until December 31, 2023

View on SEC.gov

COSTCO WHOLESALE CORP /NEW filing history →

Source: SEC EDGAR

accession 0000909832-23-000049

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