Longtime Costco employee with 40+ years of experience to lead as new CEO.
Costco Employee Climbs to the Top, Becomes CEO
A remarkable journey within the grocery warehouse chain has led to an exciting announcement – a Costco employee will take the helm as the company’s CEO starting Jan. 1. Ron Vachris, a dedicated individual who has devoted over 40 years to Costco, began his career as a forklift driver at the grocery outlet. Throughout his tenure, Vachris has taken on various crucial roles, gaining invaluable experience in business operations and merchandising activities.
“Costco has a very strong culture and a deep bench of management talent,” Jelinek said. “I have total confidence in Ron and feel that we are fortunate as a Company to have an executive of his caliber to succeed me.”
Since February 2022, Vachris has served as Costco’s president and chief operating officer, showcasing his exceptional leadership skills. As the transition of CEOs takes place, current CEO Craig Jelinek will provide guidance and support to Vachris in an advisory role.
Jelinek will continue to contribute to Costco’s growth by serving on the board of directors and standing for reelection at the company’s January 2024 annual meeting.
Costco’s Success Continues to Soar
The appointment of Vachris as CEO comes at a time when Costco is experiencing impressive growth. The company has witnessed a nearly 8% increase in paid household members and a remarkable 13.7% rise in income from membership fees, reaching a staggering $1.51 billion.
Exciting times lie ahead for Costco as they embark on a new chapter with Vachris at the helm. Stay tuned for more updates on the company’s remarkable journey.
Click here to read more from The Washington Examiner.
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