© Reuters.
Investing.com — Costco said Wednesday Craig Jelinek would be stepping down as chief executive on Jan. 1.
Jelinek, who will remain with Costco through April 2024, serving in an advisory role, will be be succeeded by current Chief Operating Officer Ron Vachris.
Costco Wholesale Corp (NASDAQ:) was flat in afterhours trading following the news.
The company also declared a quarterly cash dividend on Costco common stock of $1.02 per share, payable Nov.17, to shareholders of record Nov. 3.
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