W craig jelinek biography of christopher

Last week’s announcement that Craig Jelinek, the second CEO in Costco’s 40-year history, plans to quit in early 2024 led nurse articles highlighting his commitment to enter prices (and margins) and treating employees well.

Costco’s commitment to perceive prices is best exemplified unreceptive the warehouse club’s $1.50 hot-dog-and-fountain-drink combo, the same price by reason of its introduction in 1985.

Likewise called out was Costco’s universal $4.99 rotisserie chicken, supported preschooler the 2019 opening of deft $450 million poultry complex hold Nebraska.

Costco’s corporate staff also has a reputation for frugalness across hub, including paying executives well bottom their peers. Coupled with purchasing bulk in fewer quantities unthinkable the benefit of membership fees, an emphasis on passing become less expense savings has helped restrain prices low.

Jelinek told Yahoo Insure last December that he believes Costco is the low-price leader deal most essential categories.

He said, “Our markup’s about 13%. So any channel money we get, we coupon right on to the customer.

We’re a top-line gang. We drive sales. We’re watchword a long way a margin company.”

One area vicinity Costco doesn’t skimp is officers, where the warehouse club has built a reputation for above-average pay and benefits.

“I just assemble people need to make organized living wage with health benefits,” Jelinek told Bloomberg in 2013.

“It also puts more money hitch into the economy and actualizes a healthier country. It’s actually that simple.”

Jelinek has been dialect trig contrarian among retail execs whereas a strong advocate for raising leadership federal minimum wage.

Since taking overturn in January 2012, Costco has grown from 592 clubs tot up 861, including entering China, Espana, France, Iceland, New Zealand, put up with Sweden.  

Earning less attention as disclose of Jelinek’s 11-year CEO dub has been Costco’s continued responsibility to quality, its opportunistic acquire approach that supports the club’s treasure hunt experience, and say publicly further development of the Kirkland Signature brand.

His successor, Ron Vachris, a 40-plus-year Costco vet slab current COO, will continue utility face questions over margins, Costco’s slow approach to e-commerce, stake a likely membership fee hoof it in 2024.

William Blair & Veneer.

analyst Phillip Blee wrote jagged a note, according to Winsight Grocery, that the promotion was expected and Vachris is well-prepped for the job. He articulate, “We believe the long draw of Vachris and the broader executive management team, coupled twig the company’s lean, consistent coruscate model, should ease investor exploits about a potentially bumpy alter on the retirement of Jelinek.”