Costco sets pay for incoming CEO
New Costco CEO Craig Jelinek gets a pay raise.
Seattle Times business reporter
Craig Jelinek, who is set to become CEO of Costco Wholesale on January 1, will be paid an annual salary of $650,000 plus a bonus of up to $200,000, according to a securities filing Monday.
That compares to current CEO Jim Sinegal's salary of $350,000 and bonus of $190,400 in fiscal 2010. Including stock awards and other pay, he received $3.5 million.
As president and chief operating officer, Jelinek earned a salary of $635,000 plus a $95,200 bonus that year. With stock awards and other pay, he received $2.3 million.
Sinegal, who is also Costco's co-founder, will continue working at the company until Feb. 1, to help with the transition. During that year, he will receive a salary of $100,000 and will not be eligible for a bonus, the company said in an earlier filing.
Melissa Allison: 206-464-3312 or email@example.com. On Twitter @AllisonSeattle.