On Wednesday, Costco CEO Craig Jelinek announced that he would be retiring at the end of January 2024. He will be succeeded by Ron Vachris, Costco’s current president and chief operating officer.

Jelinek has been CEO of Costco since 2012. During his tenure, he oversaw significant growth and success for the company. Costco is now the world’s second-largest retailer, with over 800 stores in 13 countries.

Vachris has been with Costco for over 40 years. He started as a forklift driver and has worked his way up the ranks, holding various positions in operations, merchandising, and marketing. He was named president and COO in 2022.

In a statement, Jelinek said he is “confident in Ron’s ability to lead Costco into the future.” He added that Vachris is “a proven leader with a deep understanding of our business and culture.”

Vachris, in a separate statement, said that he is “honored and humbled to be selected as Costco’s next CEO.” He added that he is “committed to continuing Costco’s tradition of providing high-quality products and services at competitive prices.”

The transition of leadership at Costco is a significant event. The company is one of the most successful retailers in the world, and Jelinek has been a key part of that success.

Vachris is a well-respected leader within Costco, and he deeply understands the company’s business and culture. He is also a strong advocate for Costco’s employees and customers.

Under Vachris’s leadership, Costco will continue to grow and succeed. The company is well-positioned to benefit from the increasing popularity of e-commerce and the growing demand for value-for-money products and services.

The departure of Costco CEO Craig Jelinek is a significant event, but his successor, Ron Vachris, is a well-respected leader within the company. Under Vachris’s leadership, Costco will continue to grow and succeed.