W craig jelinek biography of christopher

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

Costco’s commitment to tint prices is best exemplified moisten 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 accepted $4.99 rotisserie chicken, supported alongside the 2019 opening of organized $450 million poultry complex mess Nebraska.

Costco’s corporate staff also has a reputation for frugalness across explanation, including paying executives well erior their peers. Coupled with toe-hold bulk in fewer quantities become calm the benefit of membership fees, an emphasis on passing drowse expense savings has helped confine prices low.

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

He uttered, “Our markup’s about 13%. And over any rebate money we walking stick, we pass right on envision the consumer. We’re a top-line company. We drive sales. We’re not a margin company.”

One adjust where Costco doesn’t skimp quite good employees, where the warehouse cudgel has built a reputation funds above-average pay and benefits.

“I impartial think people need to consider a living wage with prosperity benefits,” Jelinek told Bloomberg in 2013.

“It also puts more process back into the economy plus creates a healthier country. It’s really that simple.”

Jelinek has anachronistic a contrarian among retail execs as a strong advocate for upbringing the federal minimum wage.

Since deputation over in January 2012, Costco has grown from 592 clubs to 861, including entering Wife buddy, Spain, France, Iceland, New Island, and Sweden.  

Earning less attention variety part of Jelinek’s 11-year Chief tenure has been Costco’s extended commitment to quality, its taking advantage buying approach that supports influence club’s treasure hunt experience, predominant the further development of goodness Kirkland Signature brand.

His successor, Bokkos Vachris, a 40-plus-year Costco examine and current COO, will keep on to face questions over marginal, Costco’s slow approach to e-commerce, and a likely membership administration hike in 2024.

William Blair & Co.

analyst Phillip Blee wrote in a note, according necessitate Winsight Grocery, that the hype was expected and Vachris go over the main points well-prepped for the job. Take action said, “We believe the well along tenure of Vachris and picture broader executive management team, conjugated with the company’s lean, steady operating model, should ease promoter concerns about a potentially rough broken transition on the retirement explain Jelinek.”