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Costco membership card from Iceland. Costco's earliest predecessor, Price Club, opened its first store on July 12, 1976, on Morena Boulevard in San Diego, California.It was founded three months earlier by Sol Price and his son, Robert, following a dispute with the new owners of FedMart, Price's previous membership-only discount store. [16]
In 1997, the name of Sinegal's company was changed to Costco Wholesale. In an interview published in the Houston Chronicle on July 17, 2005, he told Steven Greenhouse that he did not care about Wall Street analysts who had criticised him for putting good treatment of employees and customers ahead of pleasing shareholders.
The Price Co. and Costco Wholesale Club merge, forming Price/Costco Inc (later renamed Costco Wholesale Corporation) 1994 Price Enterprises Inc spun off from Price/Costco Robert Price named chairman, president and CEO of Price Enterprises PriceSmart operates as a wholly owned subsidiary of Price Enterprises 1995
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.
In 1982, Brotman cofounded Costco Wholesale Corporation with Jim Sinegal, [6] a protégé of Sol Price, the founder of PriceSmart. [1] He served as chairman from the company's inception until his death, except during a stretch from 1993 to 1994 when he was vice chairman. [7] [8] In 2017, Costco operated 736 warehouse stores. [3]
The company went public in 1980. [4] [5] In 1993 Costco merged with Price Club to form PriceCostco. [4] [5] Leadership in the new organization was shared between Sol Price's son, Robert, and James Sinegal. After eight months, PriceCostco spun a separate company called Price Enterprises, [6] led by the younger Price. PriceSmart continues to ...
He serves on the boards of Giving Tech Labs, [2] Hudl, [3] Costco Wholesale, [4] the Jeffrey S. Raikes School of Computer Science and Management at the University of Nebraska-Lincoln, [5] and the Microsoft Alumni Network. He is chair of the Stanford University board of trustees. [6]
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