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Successor. W. Craig Jelinek. Spouse. Janet Sinegal. Children. 3. James D. Sinegal (born January 1, 1936) is an American billionaire businessman, co-founder and former CEO of the Costco Wholesale Corporation, [1] an international retail chain. He served as Costco's president and CEO from 1983 until 2011. As CEO of Costco, Sinegal was known for ...
Sep 16, 2020 · Sinegal took a $350,000 salary during his tenure at Costco — far below the industry standard $1 million for Fortune 100 CEOs at the time, according to The Washington Post. In 2010, Sinegal ...
- Henry Blodget
Learn how Jim Sinegal rose from a low-level employee at FedMart to launch and lead Costco, one of the largest and most successful retailers in the U.S. and the world. Discover how he revolutionized the members-only warehouse model and built a loyal customer base with his focus on low prices and employee satisfaction.
- Learning A Business Philosophy
- High Quality and Low Prices
- An Open-Door Policy
- Controversy on Wall Street
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Raised in a working-class Catholic family, Sinegal once dreamed of going to medical school. Although his test scores were good, his high-school grades were mediocre; he was advised to attend San Diego Junior College, where he earned an associate's degree. Later, while working his way through San Diego State University, Sinegal discovered his true v...
In 1983 Sinegal left Price Company to found Costco Wholesale Corporation with fellow entrepreneur Jeffrey Brotman. The first Costco store opened in a Seattle warehouse; like Price Club the venture charged a small membership fee to its customers. In 1993, after 10 years of success, Costco acquired Price Company. Early on Sinegal noticed that custome...
Sinegal's management style reflected his egalitarian business philosophy. Callers to the executive offices in Issaqua were surprised to find him answering his own phone. Cluttered and furnished with a second-hand desk and chair, his office was always open to staff who wished to stop in and talk. Sinegal felt that an open-door policy throughout Cost...
Among analysts reviews of Costco's performance were mixed. In 2002 sales in established stores grew by 6 percent and exceeded those of its nearest competitor, the Wal-Mart owned Sam's Club. However, the figures were not good enough for many investors, who pointed out Costco's relatively low earnings on the dollar. According to critics, the problem ...
Learn about the life and career of James Sinegal, the cofounder and CEO of Costco, the top warehouse-club retailer in the nation. Find out how he applied his business philosophy of high quality and low prices, and his generous compensation for employees.
Learn about the life and achievements of James Sinegal, the co-founder of Costco and one of the most influential retail innovators of the late 20th century. Discover how he rose from humble beginnings, partnered with Jeff Brotman, and adopted the humanistic philosophy of Sol Price.
Jul 31, 2013 · Current Price. $943.80. Price as of November 8, 2024, 4:00 p.m. ET. The Fool meets with Jim Sinegal, co-founder and longtime CEO of retail giant Costco. Join The Motley Fool for a conversation ...
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Dec 17, 2011 · By. Melissa Allison. On New Year’s Eve, Costco Wholesale co-founder Jim Sinegal will step down as CEO. He will hand off the job he loves and his open-walled office to Craig Jelinek, a veteran ...
