Costco Wholesale Corporation Announces Craig Jelinek Will Step Down as CEO, Ron Vachris Elected as New CEO; And Quarterly Cash Dividend Declared
18 Outubro 2023 - 5:15PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) announced today that Craig Jelinek has confirmed his
intention to step down as Chief Executive Officer,
effective January 1, 2024. The Board of Directors has elected
Ron Vachris, President and Chief Operating Officer since February
2022, as President and Chief Executive Officer,
effective January 1, 2024. Craig and Ron have worked hand in
hand over the last twenty-one months in Ron's role as president and
for many years before that. This is the culmination of the
long-standing succession plan that Craig has discussed with the
Board.
Ron is a Costco veteran, with over forty years of
service to the Company, starting as a forklift driver, and
subsequently serving in every major role related to Costco's
business operations and merchandising activities. "Costco has a
very strong culture and a deep bench of management talent," said
Craig Jelinek. "I have total confidence in Ron and feel
that we are fortunate as a Company to have an executive of his
caliber to succeed me."
Craig will remain with Costco through April
2024, serving in an advisory role and assisting Ron during the
transition. Craig will also continue to serve on the Board of
Directors and will stand for reelection at the January 2024 annual
meeting.
The Company also announced today that its Board
of Directors has declared a quarterly cash dividend on Costco
common stock of $1.02 per share. The quarterly dividend is payable
November 17, 2023, to shareholders of record at the close of
business on November 3, 2023.
Costco currently operates 861 warehouses,
including 591 in the United States and Puerto Rico, 107 in Canada,
40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea,
15 in Australia, 14 in Taiwan, five in China, four in Spain, two in
France, and one each in Iceland, New Zealand and Sweden. Costco
also operates e-commerce sites in the U.S., Canada, the U.K.,
Mexico, Korea, Taiwan, Japan and Australia.
Certain statements contained in this document
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. For these
purposes, forward-looking statements are statements that address
activities, events, conditions or developments that the Company
expects or anticipates may occur in the future. In some cases
forward-looking statements can be identified because they contain
words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” “target,”
“will,” “would,” or similar expressions and the negatives of those
terms. Such forward-looking statements involve risks and
uncertainties that may cause actual events, results or performance
to differ materially from those indicated by such statements. These
risks and uncertainties include, but are not limited to, domestic
and international economic conditions, including exchange rates,
inflation or deflation, the effects of competition and regulation,
uncertainties in the financial markets, consumer and small business
spending patterns and debt levels, breaches of security or privacy
of member or business information, conditions affecting the
acquisition, development, ownership or use of real estate, capital
spending, actions of vendors, rising costs associated with
employees (generally including health-care costs), energy and
certain commodities, geopolitical conditions (including tariffs and
the Ukraine conflict), the ability to maintain effective internal
control over financial reporting, regulatory and other impacts
related to climate change, public-health related factors, and other
risks identified from time to time in the Company’s public
statements and reports filed with the Securities and Exchange
Commission. Forward-looking statements speak only as of the date
they are made, and the Company does not undertake to update these
statements, except as required by law. Comparable sales and
comparable sales excluding impacts from changes in gasoline prices
and foreign exchange are intended as supplemental information and
are not a substitute for net sales presented in accordance with
GAAP.
CONTACTS: |
|
Costco Wholesale CorporationRichard Galanti,
425/313-8203David Sherwood, 425/313-8239Josh Dahmen,
425/313-8254 |
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