Costco promotion may signal leadership change
Costco Wholesale Corporation BB #:150902 Issaquah, WA, promoted its COO of merchandising to president and COO as a possible succession plan for CEO Craig Jelinek. In a February...
Costco Wholesale Corporation BB #:150902 Issaquah, WA, promoted its COO of merchandising to president and COO as a possible succession plan for CEO Craig Jelinek.
In a February 2 SEC filing, Costco’s board of directors appointed Ron Vachris as president and COO and appointed him to fill a vacant board position.
Vachris, 56, previously served as executive vice president and chief operating officer, merchandising, since 2016. In addition, he served as senior vice president, real estate development, from August 2015 to June 2016, and senior vice president and general manager, northwest region, from 2010 to July 2015.
Bloomberg news speculates the move may be a succession plan for CEO Jelinek, as Vachris takes over the title of president from Jelinek.
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