W. Craig Jelinek Explained
| Walter Craig Jelinek |
| Birth Date: | August 8, 1952 |
| Birth Place: | Los Angeles, California, U.S. |
| Alma Mater: | San Diego State University |
| Occupation: | Businessman |
| Known For: | President and CEO of Costco, 2012–2023 |
Walter Craig Jelinek (born August 8, 1952) is an American businessman who served as president and CEO of Costco from 2012 to 2023, when he succeeded the company's founder, James Sinegal.
Early life
On August 8, 1952, Jelinek was born in Los Angeles, California to Walter Adolph Jelinek and Erdene Gordon.[1] [2] His father was of Czech descent (the surname is derived from Jelínek, which is common in the country).[3] In 1970, Jelinek graduated from Antelope Valley High School.[4] [5] [6]
Education
In 1975, Jelinek earned a bachelor's degree from San Diego State University.[4]
Career
Jelinek started his career at FedMart and was later an operations manager for the company in Los Angeles.[7] In 1981, Jelinek joined Lucky Stores.[8]
He joined Costco as a warehouse manager in 1984 and was later the manager of the company's Northwest region after the Price Club merger. Jelinek became the company's executive president of merchandising in 2004.[7] He joined the company's board in 2010 amid speculation that he was being prepared to take over as CEO. Jelinek was named president in 2010 and took over as CEO in 2012 after the retirement of founder James Sinegal.[9] [10] [11]
Jelinek also sits on Costco Wholesale UK Ltd's board.[12]
In 2018, Jelinek's annual base salary was $800,000 as stated by the Puget Sound Business Journal.[13] His base salary increased to $1,000,000 in 2020; that same year, Jelinek's total compensation was $8,279,552 per an SEC filing by Costco.[14]
Jelinek announced in October 2023 that he would step down as Costco CEO at the end of the year; Ron Vachris replaced Jelinek as the chief operating officer and president in January 2024.[10] [15] Jelinek will stay on as an advisor until April 2024 and also serve as a member of the board.[16]
Awards
- 2019 Peter G. Peterson Business Statesmanship Award. Presented by Committee for Economic Development.[17]
See also
External links
Notes and References
- Web site: Jelinek . 1952 . California Birth Index, 1905-1995 . FamilySearch.
- Web site: Jelinek . 1951 . California, County Marriages, 1850-1953 . FamilySearch.
- Web site: Jelinek . 1920 . United States Census, 1920 . FamilySearch.
- Web site: Craig Jelinek . Marquis Who's Who. September 23, 2020.
- Web site: W Craig Jelinek. BoardroomInsiders.
- Web site: Costco CEO Craig Jelinek added to Outlook Conference . theavtimes.com . November 27, 2012 . September 23, 2020.
- News: Allison . Melissa . February 2, 2010 . Costco names apparent heir to CEO Sinegal . The Seattle Times . November 3, 2023.
- Web site: Inside the career of Costco CEO Craig Jelinek, who's worked with the warehouse club almost since its birth . businessinsider.com . March 17, 2019 . September 23, 2020.
- News: Allison . Melissa . April 10, 2011 . In Person: Costco president Craig Jelinek keeps a low profile . The Seattle Times . November 3, 2023.
- News: Geraldo . Renata . October 18, 2023 . Costco CEO Craig Jelinek to step down, hand the reins to longtime insider . The Seattle Times . November 3, 2023.
- Web site: Executive Profile: W. Craig Jelinek. Bloomberg. June 26, 2015.
- Web site: Business Leaders. Market Screener. May 18, 2020.
- Web site: Inside the career of Costco CEO Craig Jelinek, who's worked with the warehouse club almost since its birth. Cain. Aine. March 17, 2019. Business Insider. May 18, 2020.
- Web site: Proxy Statement pursuant to section 14(a) of the Securities Exchange Act of 1934. December 24, 2021.
- Web site: Klein . Daniel . Costco shares a secret as it makes a huge change . 2024-03-19 . www.msn.com.
- Web site: Bregel . Sarah . 2023-10-19 . From forklift driver to CEO: Who is incoming Costco boss Ron Vachris? . 2024-03-18 . Fast Company.
- Web site: Craig Jelinek . ced.org . September 23, 2020.
