Costco CEO Craig Jelinek will step down from the role at the end of this year, the company said.
The incoming CEO, Ron Vachris, has worked with Costco for over 40 years, starting as a forklift driver.
The transition caps off a decade in the role for Jelinek, who took over from co-founder Jim Sinegal in 2012.
Prior to becoming CEO, Jelinek was one of Costco's earliest leadership hires, serving in roles ranging from director of regional operations to vice president of merchandising.
AdvertisementAdvertisementJelinek and Vachris worked "hand in hand" for nearly two years to ensure a smooth transition, the company said.
Persons:
Craig Jelinek, Jelinek, Jim Sinegal, Ron Vachris, —, Vachris
Organizations:
Costco, Service, Company