Costco Announces New CEO as Craig Jelinek Steps Down After 11 Years

Costco customers push shopping carts through the parking lot of a Costco store in Richmond, Calif., on March 13, 2020. Justin Sullivan/Getty Images

Costco announced Wednesday that Chief Executive Officer W. Craig Jelinek is stepping down after more than 11 years at the helm.

Mr. Jelinek, 71, be succeeded by the company’s president and chief operating officer, Ron Vachris, who has been with Costco for more than 40 years.