Costco Wholesale Corporation Announces Richard Galanti Will Step Down as CFO, Names Gary Millerchip New CFO
06 2월 2024 - 10:30PM
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq:
COST) announced today that Richard Galanti has confirmed his
intention to step down as Chief Financial Officer, effective March
15, 2024. The Board of Directors has named Gary Millerchip as
Executive Vice President and Chief Financial Officer, effective
March 15, 2024.
Gary brings extensive retail and finance
experience to Costco, serving as Senior Vice President and Chief
Financial Officer at The Kroger Co. since April 2019. Gary spent 15
years at The Kroger Co., preceded by more than 20 years in banking,
most recently with the NatWest Group (formerly Royal Bank of
Scotland) in the U.K.
Richard will remain with the Company through
January 2025, serving in an advisory role, assisting Gary during
the transition, and continuing on the Board of Directors. Costco
Chief Executive Officer Ron Vachris stated: “Over his nearly
forty-year tenure as chief financial officer at the Company Richard
has made innumerable and invaluable contributions to its success.
He is widely known, admired, and respected among our shareholders,
employees, business partners, and others. We express our deepest
gratitude for his long and loyal service.”
Costco currently operates 874 warehouses,
including 602 in the United States and Puerto Rico, 108 in Canada,
40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea,
15 in Australia, 14 in Taiwan, six in China, four in Spain, two in
France, and one each in Iceland, New Zealand and Sweden. Costco
also operates e-commerce sites in the U.S., Canada, the U.K.,
Mexico, Korea, Taiwan, Japan and Australia.
Certain statements contained in this document
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. For these
purposes, forward-looking statements are statements that address
activities, events, conditions or developments that the Company
expects or anticipates may occur in the future. In some cases
forward-looking statements can be identified because they contain
words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” “target,”
“will,” “would,” or similar expressions and the negatives of those
terms. Such forward-looking statements involve risks and
uncertainties that may cause actual events, results or performance
to differ materially from those indicated by such statements. These
risks and uncertainties include, but are not limited to, domestic
and international economic conditions, including exchange rates,
inflation or deflation, the effects of competition and regulation,
uncertainties in the financial markets, consumer and small business
spending patterns and debt levels, breaches of security or privacy
of member or business information, conditions affecting the
acquisition, development, ownership or use of real estate, capital
spending, actions of vendors, rising costs associated with
employees (generally including health-care costs), energy and
certain commodities, geopolitical conditions (including tariffs and
the Ukraine conflict), the ability to maintain effective internal
control over financial reporting, regulatory and other impacts
related to climate change, public-health related factors, and other
risks identified from time to time in the Company’s public
statements and reports filed with the Securities and Exchange
Commission. Forward-looking statements speak only as of the date
they are made, and the Company does not undertake to update these
statements, except as required by law. Comparable sales and
comparable sales excluding impacts from changes in gasoline prices
and foreign exchange are intended as supplemental information and
are not a substitute for net sales presented in accordance with
GAAP.
CONTACTS: |
Costco Wholesale Corporation |
|
David Sherwood,
425/313-8239 |
|
Josh Dahmen, 425/313-8254 |
COST-Comp
Costco Wholesale (NASDAQ:COST)
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Costco Wholesale (NASDAQ:COST)
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