Sinegal to step down as Costco CEO
August 31st, 2011
Jim Sinegal plans to step down Jan. 1 as the CEO of Costco Wholesale Corp., the company disclosed late Wednesday. Sinegal will be succeeded as CEO by Craig Jelinek, currently Costco’s president and chief operating officer, the company said in a press release. Jelinek has worked for the company for 28 years. Costco said Sinegal will remain on the board of directors and serve in an advisory role to Jelinek through January 2013. Sinegal plans to run for re-election to the board in 2012. Sinegal told The Seattle Times that it was time to step down because of his age — 75 — and the healthy condition of the company…



