By Ben Glickman

Costco Wholesale Corp. named Ron Vachris, its current president and chief operating officer, as its next chief executive officer effective Jan. 1.

The wholesale retailer said that current CEO Craig Jelinek, who has served in the role since 2012, would step down.

Vachris has served as COO since February 2022. Costco said he had worked with the company for more than 40 years, beginning as a forklift driver and serving in operations and merchandising roles.

Jelinek will stay with the company through April 2024 as an advisor to assist during the transition and will continue to serve on the board of directors.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 18, 2023 16:38 ET (20:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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