---
schema_version: "secwatch.filing_event.v1"
accession: "0000909832-24-000008"
form_type: "8-K"
ticker: "COST"
cik: "0000909832"
company_name: "COSTCO WHOLESALE CORP /NEW"
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T05:05:57.672907+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Costco CFO Richard Galanti to retire March 15; Gary Millerchip named successor

## Summary
- Galanti departs as CFO after ~40 years; remains EVP and Board member, advisory role through Jan 2025.
- Millerchip, ex-Kroger CFO, appointed EVP/CFO effective March 15; base salary $900,000, plus bonus eligibility.
- Millerchip receives $4M cash payment ($2M forgivable if employed March 2025, $1M if March 2026) and $7M RSU grant vesting over 3 years.
- Millerchip also gets RSU grant target $2.8M in March 2024 and annual grants target $5.6M from Oct 2024, vesting over 5 years with performance conditions.

## SEC filing metadata
- accession: 0000909832-24-000008
- form_type: 8-K
- ticker: COST
- cik: 0000909832
- company_name: COSTCO WHOLESALE CORP /NEW
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/909832/000090983224000008/0000909832-24-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/909832/000090983224000008/cost-20240205.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000909832-24-000008
- JSON: https://secwatch.observer/filing/0000909832-24-000008.json
- Plain text: https://secwatch.observer/filing/0000909832-24-000008.txt

## Key facts
- Executive change
  Gary Millerchip was appointed as Chief Financial Officer at COSTCO WHOLESALE CORP /NEW.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: The Board of Directors has appointed Gary Millerchip as an Executive Vice President, effective February 29, 2024, and Costco’s Chief Financial Officer to succeed Mr. Galanti, effective March 15, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909832/000090983224000008/0000909832-24-000008-index.htm
- Executive change
  Richard Galanti changed role as Chief Financial Officer at COSTCO WHOLESALE CORP /NEW.
  - Action: retire
  - Role: Chief Financial Officer
  source text: On February 6, 2024, Costco announced that Richard Galanti will retire as Costco’s Chief Financial Officer, effective March 15, 2024, following nearly forty years of distinguished service to the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909832/000090983224000008/0000909832-24-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.