Senegal stepping down at Costco
September 1, 2011,
President and chief operating officer Craig Jelinek will become president and ceo effective Jan. 1, 2012. Jelinek has been with Costco for 28 years, beginning as a warehouse manager and working in several areas of the retailer's merchandise and business operations since then.
"Costco has a very strong culture and a deep bench of management talent," said Sinegal. "I have total confidence in Craig's ability to handle his new responsibilities and feel we are fortunate as a company to have an executive of his caliber to succeed me as chief executive of Costco."
Sinegal serve in an advisory capacity through January 2013 and will continue to serve on the board of directors. He plans to stand for reelectionto the board at the January 2012 annual meeting.
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