Costco Appoints New CFO; Gary Millerchip Succeeds Galanti

Costco (COST) has released an update to notify the public and investors about its officers.

Costco has announced the retirement of its long-serving CFO Richard Galanti, with Gary Millerchip set to take over the position. Millerchip, who has a notable financial background with The Kroger Co., will join Costco with a substantial compensation package including a $900,000 base salary, potential bonuses, and performance-based stock grants worth millions, alongside additional compensation to offset forfeited equity from his previous role.

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For a comprehensive understanding of the announcement, you can read the full document here.