Costco announced that Craig Jelinek has confirmed his intention to step down as CEO, effective January 1, 2024. The board has elected Ron Vachris, president and COO since February, as president and CEO, effective January 1, 2024. The company said this is the culmination of the long-standing succession plan that Craig has discussed with the Board. Jelinek will remain with Costco through April, 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.
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