Costco Leadership Transition: Craig Jelinek Stepping Aside as Ron Vachris Takes the Helm in 2024

DeFiGrayling · 2026-01-04T16:05:40+00:00

Costco will see CEO Craig Jelinek step down on January 1, 2024, transitioning to Ron Vachris as his successor. Jelinek will assist during the transition and remain on the Board. The company also announced a quarterly dividend of $1.02 per share.

DeFiGrayling

2026-01-04 16:05:40

Abstract generation in progress

Costco Wholesale Corp. (COST) has announced a significant leadership shift, with long-standing CEO Craig Jelinek transitioning out of his executive role effective January 1, 2024. Ron Vachris, who has served as President and Chief Operating Officer since February 2022, will assume the position of President and Chief Executive Officer on the same date.

The succession plan ensures continuity during the handover. Craig Jelinek will remain affiliated with the company through April 2024, providing strategic guidance to Ron Vachris throughout the transition period. Additionally, the outgoing executive will retain his seat on Costco’s Board of Directors and will stand for reelection at the upcoming January 2024 annual shareholders’ meeting. This arrangement reflects the company’s commitment to a smooth leadership transition while preserving institutional knowledge.

In related news, Costco’s board of directors authorized a quarterly cash dividend of $1.02 per share on the company’s common stock. The payment is scheduled for November 17, 2023, for shareholders recorded on the company’s books as of November 3, 2023. This dividend announcement underscores Costco’s ongoing commitment to returning value to its shareholders amid the executive leadership changes.

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