Zeynep Ton

<p>History is rife with examples of highly successful companies that lost their footing after their founders or early leaders who made them great left or died. Their ranks include Ford Motor Company, Walt Disney Company, Apple after Steve Jobs was pushed out in 1985, Hewlett-Packard, and <a href="/2024/06/how-starbucks-devalued-its-own-brand">Starbucks</a>.</p>

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<p>Many companies falter after a great early leader departs. An outstanding exception is Costco. Since Jim Sinegal retired as Costco&#8217;s CEO, in January 2012, the membership warehouse retailer has continued to thrive even as many other retailers have struggled or died. Its success is a testament to the Code of Ethics and five deeply held convictions that Sinegal embedded in the company&#8217;s DNA. They emphasize that taking care of customers and employees and treating suppliers with respect will lead to extraordinary customer and employee loyalty and shareholder value. How Sinegal ingrained his approach to business into Costco&#8217;s culture and operating model hold lessons for leaders of companies of all sizes.</p>

Costco&rsquo;s Jim Sinegal on Building a Company That Will Endure

Many companies falter after a great early leader departs. An outstanding exception is Costco. Since Jim Sinegal retired as Costco’s CEO, in January 2012, the membership warehouse retailer has continued to thrive even as many other retailers have struggled or died. Its success is a testament to the Code of Ethics and five deeply held convictions that Sinegal embedded in the company’s DNA. They emphasize that taking care of customers and employees and treating suppliers with respect will lead to extraordinary customer and employee loyalty and shareholder value. How Sinegal ingrained his approach to business into Costco’s culture and operating model hold lessons for leaders of companies of all sizes.

Costco’s Jim Sinegal on Building a Company That Will Endure

Summary.

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