Costco Wholesale Club has tapped its longtime director as its new chairman.
The company announced the election of Hamilton “Tony” James to the position of chairman. He replaces Jeff Brotman, who co-founded Costco with James Sinegal in 1982. Brotman passed away unexpectedly on Aug. 2.
James is president and COO of Blackstone Group, and a member of Blackstone Group Management’s board of directors. He is also a member of Blackstone Management Committee and sits on each of the firm’s investment committees.
James has been a director of Costco since August 1988, becoming its lead independent director in 2005.