Costco CEO Craig Jelinek To Step Down In January 2024; Names Ron Vachris CEO

(RTTNews) - Costco Wholesale Corp. (COST) announced that Craig Jelinek plans to step down as Chief Executive Officer, effective January 1, 2024.

The company has elected Ron Vachris, President and Chief Operating Officer since February 2022, as President and Chief Executive Officer, effective January 1, 2024.

The company noted that Craig will remain with Costco through April 2024, serving in an advisory role and assisting Ron during the transition. Craig will also continue to serve on the Board of Directors and will stand for reelection at the January 2024 annual meeting.

The company declared a quarterly cash dividend on Costco common stock of $1.02 per share. The quarterly dividend is payable November 17, 2023, to shareholders of record at the close of business on November 3, 2023.