Costco CEO to step down amid healthcare bet

Costco CEO to step down amid healthcare bet unknown

Costco CEO Craig Jelinek announced that he is stepping down on Jan. 1, 2024, as the retail giant looks to break into healthcare.

Mr. Jelinek will be replaced by Ron Varchis, according to an Oct. 18 Costco news release. Mr. Varchis has served as Costco's COO since February 2022. In September, the company announced that it would be offering virtual care through a partnership with Sesame. 

Retail competitors, such as Walmart, Best Buy and Amazon, have also looked to expand their healthcare offerings. Mr. Jelinek will stay on with the company through April 2024 in an advisory role.