As Costco’s (COST) longtime CEO Craig Jelinek, 71, steps down, he will be succeeded by Costco’s president and COO, Ron Vachris, who joined the company 40 years ago as a forklift driver. Jelinek was CEO at Costco for 11 years.

Few people have succeeded in making as permanent an impression on the ever-changing retail world as Craig Jelinek. Since 2012, Jelinek has served as the President and CEO of Costco Wholesale Corporation, overseeing its transformation into a retail powerhouse renowned for its commitment to value, ethical business practices, and an unwavering dedication to customer satisfaction. Costco is one of the largest and most successful retailers in the world.

Under Jelinek’s leadership, Costco has continued to thrive and expand. The company’s business model, which focuses on offering high-quality products at competitive prices, has resonated with consumers, and set the standard for a successful membership-based retail experience. Costco’s dedication to customer satisfaction is evident in its consistently high customer loyalty and renewal rates. This remarkable achievement can be attributed to Jelinek’s relentless commitment to providing value, quality, and innovation in a fiercely competitive market.

One of the cornerstones of Costco’s success is its emphasis on employee welfare. Jelinek has been a staunch advocate for fair wages, comprehensive healthcare benefits, and opportunities for career advancement within the company. This approach has not only earned Costco a reputation as one of the best employers in the retail industry but has also translated into motivated and engaged employees who provide excellent service to customers.

Jalinek told The Committee for Economic Development of The Conference Board (CED) “The mid-80s were probably the most challenging years of my career,” says Craig. “We were expanding rapidly, but didn’t yet have many central support departments, so I had to wear a lot of hats.” From running operations and working with warehouse managers, to attending city council meetings and meetings with architects, he was involved in just about everything.

Costco’s shares showed no movement during Wednesday’s after-hours trade, indicating investors were unconcerned.

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