costco jim sinegal 2

Summary List Placement

After discovering a passion for retail in college, Jim Sinegal cofounded Costco and built it into one of the largest retailers on the globe, while largely staying out of the limelight himself.

Before he retired from Costco’s top post in 2012, Sinegal defined nearly every aspect that makes the beloved warehouse retailer what it is today, from its low prices to its barebones decor. During his time at the company, he took a relatively low salary for an executive of his influence.

A representative for Sinegal at Costco did not immediately respond to Business Insider’s request for comment on the former CEO’s tenure at the company, net worth, political activities, or philanthropy.

Keep reading to learn more about Costco cofounder Jim Sinegal.

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James Sinegal, 84, first entered the grocery business while still in college.

Sinegal was born into a working class family in Pittsburgh. His father was a coal miner and a steelworker, The New York Times reported.

When Sinegal was 18, he took on what he thought would be a one-day job unloading mattresses at Fed-Mart, one of America’s first warehouse retailers, according to The Times.

Sinegal went on to earn a bachelor’s degree from San Diego State University in 1959, while still working at Fed-Mart as a bagger. He eventually rose to become the company’s executive vice president for merchandising, before leaving Fed-Mart alongside its founder Sol Price (who was ousted after selling the company to a German retailer) to launch another warehouse store called Price Club in 1976 that only sold memberships to …read more

Source:: Business Insider


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