Costco COO to retire in June

ISSAQUAH, Wash. Dick DiCerchio will retire as Costco’s senior EVP and COO, effective June 4, the mass-merchandise retailer said Wednesday.

DiCerchio will remain as a member of the company’s board of directors, and a Costco representative told Drug Store News that employees who had reported to him would report instead to president and fellow COO Craig Jelinek, though the company had not found anyone to succeed DiCerchio.

DiCerchio's career spans more than five decades, and held various positions at such retailers as Fed-Mart and The Price Co. Costco CEO Jim Sinegal said his efforts led to many of Costco's successes.

“Dick has made invaluable contributions to the growth of our company, having spent 27 years in all facets of our operations, culminating with his positions as senior EVP and as a member of the board of directors,” Sinegal said. “Under his leadership, the company has trained and developed a broad and deep team of executives across the globe.”