At No. 12 on the Fortune 500, Costco is led by CEO Ron Vachris who has been at the company for more than 40 years.
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00:00Costco CEO Ron Vacris began his career over 40 years ago as a teenage forklift driver.
00:06After a little over one year into his tenure as chief executive,
00:09Vacris is already driving the company to higher revenues.
00:13The wholesaler sits at number 12 on this year's Fortune 500, raking in $254 billion.
00:19Vacris is only the third CEO in Costco's history.
00:22Over the decades, he's held a number of positions at the company,
00:26including Chief Operating Officer, Executive Vice President of Merchandising,
00:30and Senior Vice President of Real Estate Development.
00:32As CEO, Vacris received a $12.2 million compensation package,
00:37which includes a base salary of $1.1 million, $10.5 million in stock awards,
00:43and perks like a free executive Costco membership.
00:46Looking ahead, Vacris plans to invest more in e-commerce and technology.
00:50Costco has already launched Buy Now Pay Later options on its website
00:53and is seeing strong growth in its Costco Next program,
00:57which lets consumers buy name brands at affordable prices.