Published Date : Aug 02, 2017
Jeffrey Brotman, co-founder and Chairman of Costco, who helped to spread a movement of warehouse-style shopping, died on Tuesday morning, at the age of 74. The company has added condolences by saying that the thoughts of Costco’s employees, management, and board are with Jeff’s family. However, the company didn't provide any additional details.
Brotman, was a lawyer prior to becoming an entrepreneur. He grew up in Tacoma, Washington. Along with Jim Sinegal, he started Costco chain in the year 1982 and served as the company's chief executive officer for a significant period of time. He also served as chairman for decades. He was also a director on boards of Starbucks Corp.’s in ‘90s.
Entrepreneur who led Costco to Pinnacle
Headquartered at Issaquah, Washington, Costco in the most prominent American warehouse club. Costco was the second largest retailer after Walmart as of 2015. Worldwide, Costco has 729 warehouses, out of which 508 are in 44 states of the US and Puerto Rico.
President of Seattle-based insurance firm MCM, John Meisenbach, expressed that Brotman had the “sixth sense” for finding new and most profitable locations for Costco. Meisenbach further shared that when Brotman and Jim Sinegal had started, everyone thought it will be very difficult as many warehouse clubs had failed. But they both stuck to their aims and made Costco one of the biggest warehouse clubs.
During the period of 1993-1994, Brotman was vice chairman of Costco and except that period, he had led the company’s board since its beginning. However, Costco didn’t provide any details regarding the new chairman and successor of Brotman.