The life and career of departing Costco CEO Craig Jelinek, who's worked at the retail giant since the '80s – and eats its famous $1.50 hot dog plain

He attended Antelope Valley High School, graduating in 1970.

The CEO later told the Seattle Times that his father dissuaded him from going into the aircraft business. Sales "always depended on the Democrats or the Republicans," he said, and shifted with every new political regime change.

The school was also the alma mater of Costco cofounder Jim Sinegal.

Jelinek joined the company in 1969 as a part-time food stocker and worked there until the early '80s.

"I never forgot that," Jelinek told the Seattle Times. "You always know there's going to be work."

Its founder, Sol Price, and his son, Robert, started a new company called Price Club in 1976 after FedMart's collapse.

One of Price Club's top execs was Sinegal, who left to create Costco in 1983 — less than a decade later, Costco and Price Club merged, with Sinegal leading the new company.

Jelinek spent three years at the grocery chain before joining Costco.

He opened the company's sixth location — in Tukwila, Washington — and helped Costco expand in Nevada and California.

"We were expanding rapidly, but didn't yet have many central support departments, so I had to wear a lot of hats," he told the Committee for Economic Development.

His new role included overseeing large swaths of Costco's business, including e-commerce, foods, and pharmacy.

Less than two years later, Costco's share price had risen 30%.

"I just think people need to make a living wage with health benefits," Jelinek told Bloomberg in 2013. "It also puts more money back into the economy and creates a healthier country. It's really that simple."

"At Costco, we know that paying employees good wages and providing affordable benefits makes sense for our business and constitutes a significant competitive advantage for us," he told the US Senate budget committee in 2021, arguing that maximizing "employee productivity, commitment and loyalty" is better for companies in the long term.

The warehouse giant saw major gains with the onset of the pandemic, when shoppers rushed to stock up on household goods like toilet paper. Costco's share price soared, and the company added millions of new members per year.

Jelinek's total compensation reached over $9.9 million last year, while Walmart CEO Doug McMillon made a total of $25.3 million and Target paid CEO Brian Cornell more than $17.6 million.

"No mustard. No ketchup," he told Bloomberg. "I savor that hot dog. I eat 'em plain."

Vachris has worked with Costco for more than 40 years, starting as a forklift driver at Price Club and rising through the ranks in all aspects of merchandising and operations.

Jelinek and Vachris worked "hand in hand" for nearly two years to ensure a smooth transition, the company said.

Áine Cain and Avery Hartmans contributed to earlier versions of this article.