Summary
Costco Wholesale Corporation (COST) filed an 8-K report on January 8, 2018, announcing significant leadership transitions effective March 2, 2018. Two long-serving Executive Vice Presidents, Dennis Zook (Southwest Division and Mexico) and John McKay (Northern Division), are retiring after over thirty years of dedicated service. The company expressed gratitude for their substantial contributions to Costco's success.
Key Highlights
- 1Retirement of two long-serving Executive Vice Presidents: Dennis Zook and John McKay.
- 2Messrs. Zook and McKay have collectively contributed over sixty years of service to Costco.
- 3Appointment of Russ Miller as Executive Vice President, Southwest Division and Mexico.
- 4Appointment of Jim Klauer as Executive Vice President, Northern Division.
- 5Both new appointees will report directly to President and CEO Craig Jelinek.
- 6The leadership changes are effective March 2, 2018.
Frequently Asked Questions
Dennis Zook, Executive Vice President of the Southwest Division and Mexico, and John McKay, Executive Vice President of the Northern Division, are retiring from the company.
Russ Miller, previously Senior Vice President and General Manager of the Western Canada Region, has been appointed Executive Vice President for the Southwest Division and Mexico. Jim Klauer, formerly Senior Vice President of Merchandising — Non-Foods and E-Commerce, will become Executive Vice President of the Northern Division.
The appointments of Russ Miller and Jim Klauer, and the retirements of Dennis Zook and John McKay, are effective March 2, 2018.
Yes, both Russ Miller and Jim Klauer will report directly to Costco's President and Chief Executive Officer, Craig Jelinek.