ISSAQUAH — Ron Vachris, the chief executive officer of Costco Wholesale, spoke at the Economic Club of Chicago. Vachris discussed his career path and the advice he received from his father.
Vachris graduated from high school in the early 1980s and enrolled at Glendale Community College in Arizona, where he studied business. While attending college, he worked part-time as a forklift driver for Price Club. Vachris did not complete his college degree.
Vachris's father was a utility lineman who advised him to start at a reputable company. Vachris said his father told him, "Don't chase a title. Don't chase anything big. Just go make yourself your own success." He also stated his father's advice was to take a low-level job at a reputable company and build from there.
Price Club merged with Costco in 1993. Vachris was promoted to assistant warehouse manager and later became regional vice president in 1999. In 2016, Vachris became Costco's chief operating officer, and by 2024, he was named chief executive officer.
Vachris reflected on his career trajectory during his speech. "I wish I had the vision back in the '80s about what this industry and what this company could be. But it rings true to my father's comments: find this company that stands for what you want to stand for, and then the rest is up to you." Vachris said. Vachris's annual compensation package is valued at nearly $14 million.
No independent assessment of Ron Vachris’s claims was available.