A major shakeup is going down at Costco next month, and customers are majorly freaking out about it. The Wall Street Journal recently reported that Richard Galanti, Costco's Chief Financial Officer, will be stepping down from his role on March 15. Galanti, who has had the CFO role for nearly 40 years, will be replaced by Kroger's CFO, Gary Millerchip.
While you're most likely to see Costco customers complaining about membership card scans or new shopping carts, they are now sounding the alarm about Galanti's replacement. It could be bad news for both customers and employees, some claim. This just shows how closely die-hard Costco customers follow company news and how invested they are in the store.
A Reddit thread about the change in leadership has received nearly 800 comments from concerned shoppers.
"I have a bad feeling about this," said one user who captured the grim tone of most of the comments.
Overall, the majority of users seemed to be concerned about the potential for price increases at the warehouse.
"AKA - I'm here to increase prices and take away perks. Been the trend for the past decade, and don't see it stopping anytime soon," one person wrote.
Kroger, Millerchip's soon-to-be former place of employment, wasn't spared in the comments.
"Kroger has been garbage for a while. This isn't a good sign for Costco," read one comment aimed at the grocery store.
"Kroger and Costco don't even belong in the same sentence together. It’s all downhill from here."
A veteran Costco employee didn't have a rosy outlook: "20+ year employee here, and I've seen the old guard take their values with them out the door. This is terrible:(."
Another employee was just as pessimistic: "I'm a long-time employee (30+years) and I'm usually pretty optimistic about Costco in general. This is not good. Nothing this guy has done aligns with the way Costco treats its employees, members, or vendors and the fact that the guys up top think this is the person for the job does not bode well at all."
A number of commenters expressed concern over the future of Costco's beloved $1.50 hot dog and soda combo.
"I won't mince words and waste time. He better not fk with the hot dogs," one user wrote.
"The hotdog will be the canary," another said.
The price of the hot dog and soda combo has been the same since the 1980s, so a price increase would be the first in decades. It goes without saying that it would send Costco shoppers into an absolute frenzy. It remains to be seen what changes, if any, the new leadership will bring, but we know that shoppers will let Costco know what they really think.
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