Costco CEO Craig Jelinek to Hand Over Reins After 11 Years

Costco CEO Craig Jelinek has confirmed his intention to step down on January 1, with Ron Vachris, the retailer's president and chief operating officer, set to take over as the new CEO. The transition is part of a long-standing succession plan, and Jelinek will remain in an advisory role until April to assist with the transition. Vachris, a Costco veteran with over 40 years of experience, has the full confidence of Jelinek. The company's board has also declared a quarterly cash dividend of $1.02 per share.