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    Ron M. Vachris

    President and CEO at Costco Wholesale Corp
    Board
    Since January 1, 2024
    Age
    59 years
    Tenure
    Joined COST in 1980 as a forklift driver and advanced through roles including Senior Vice President, General Manager of the Northwest Region, Senior Vice President of Real Estate Development, Executive Vice President of Merchandising, and President and COO before becoming President and CEO on January 1, 2024.

    Also at Costco Wholesale Corp

    CF
    Caton Frates
    EVP, COO, Southwest Division
    CEA
    Claudine E. Adamo
    EVP, Merchandising
    GM
    Gary Millerchip
    EVP, Chief Financial Officer

    About

    Ron M. Vachris has built a distinguished career marked by his unwavering commitment and gradual progression at COST, beginning his journey in 1980 as a forklift driver and steadily advancing through multiple key roles over the past 40+ years.

    His professional path includes pivotal leadership positions such as Senior Vice President, General Manager of the Northwest Region, Senior Vice President of Real Estate Development, and Executive Vice President of Merchandising. Each role allowed him to develop a deep operational and strategic understanding of the business, eventually positioning him as President and COO before his promotion to President and CEO.

    Now serving as the head of the organization since January 1, 2024, he leverages decades of hands-on experience and expertise to guide the company's strategic direction and operational excellence. His journey, characterized by dedication and continuous growth, exemplifies the value of long-term commitment to organizational success.

    $COST Performance Under Ron M. Vachris

    Past Roles

    OrganizationRoleDate RangeDetails
    Costco President and Chief Operating Officer February 2022 - December 2023 Held position prior to becoming CEO
    Costco Executive Vice President of Merchandising June 2016 - January 2022 Senior merchandising role
    Costco Senior Vice President of Real Estate Development August 2015 - June 2016
    Costco Senior Vice President, General Manager of the Northwest Region 2010 - July 2015
    Costco Various Management Positions in Warehouse Operations 28 years prior to 2010 Multiple roles over 28 years in warehouse operations

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Annual Base Salary$1,078,077 AnnualFixed base salary for 2024
    Deferred Compensation Match$5,000 AnnualPart of fixed compensation
    401(k) Matching Contribution$500 AnnualFixed component for retirement savings
    401(k) Discretionary Contribution$29,700 AnnualDiscretionary retirement plan contribution
    Executive Life Insurance$3,653 AnnualExecutive life insurance benefit
    Long-Term Disability Premiums$10,624 AnnualPremiums for long-term disability coverage
    Tax Gross-Up$6,567 AnnualCompensation tax gross-up
    Other Compensation$120 AnnualIncludes free executive membership card

    Performance Compensation

    Data from  FY 2024

    Performance-Based RSUs

    MetricValueDetails
    Net Sales Growth Target3% Increase over fiscal 2023, adjusted for currency effects and one less week in fiscal 2024
    Pre-Tax Income Growth Target7% Increase over fiscal 2023, adjusted for currency effects and one less week in fiscal 2024
    Grant DateOctober 22, 2023 Date when the RSUs were granted
    Grant Date Fair Value$10,592,029 Fair value of the RSU grant as of the grant date
    Number of RSUs Granted18,809 Performance-based RSUs awarded
    Vesting Schedule20% annually over 5 years Vesting begins on October 22, 2024 and continues annually
    AdjustmentsSpecial dividend adjustment Increased share count to preserve award value

    Bonus Components

    MetricTarget/Actual ValueDetails
    Pre-Tax IncomeTarget: $9.6B, Actual: $9.8B (102%) Achieved bonus payout of $231,000 based on performance relative to target
    Net SalesTarget: $253.8B, Actual: $250.4B (98.7%) Achieved bonus payout of $110,000 ; performance slightly below target
    Environmental & Social ObjectivesMetBonus payout of $93,333 when quantitative performance metrics for diversity, equity, inclusion, and resource consumption are met
    Bonus Payment Range0% to 120% Potential bonus scaled based on achievement levels