Jim Sinegal, the chief executive officer of Costco Wholesale Corp., ceded a bit of power this year — giving up the title of president — and at the same time he set up a process for a smooth management transition when he decides to retire. Early in the year, Issaquah, Wash.-based Costco established an office of the president consisting of Jeff Brotman as chairman, Sinegal as CEO and Craig Jelinek as president and chief operating officer. (A fourth member of the office, Dick ...

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