Costco Wholesale Corp. named Craig Jelinek president and chief operating officer, effectively immediately. Jelinek, who will join the board, was previously executive vice president in charge of merchandising, a position he held since 2004.

Costco also said it created an Office of the President, which includes Jelinek, Jim Sinegal, the 74-year-old co-founder and chief executive; Sinegal, Chairman Jeff Brotman and Dick DiCerchio, a senior executive vice president. The company said the four will coordinate on "major company matters."