COST - Costco Wholesale Corporation Announces Richard Galanti Will Step Down as CFO Names Gary Millerchip New CFO | Benzinga
ISSAQUAH, Wash., Feb. 06, 2024 (GLOBE NEWSWIRE) -- 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, ...