richard Galanti

Richard Galanti is a prominent executive at Costco Wholesale, currently serving as the Executive Vice President and Chief Financial Officer (CFO). He has had a remarkable career at Costco, spanning nearly 40 years, during which he has played a pivotal role in the company’s growth and success.

Early Life and Education

Richard Galanti was born and raised in Atlanta, Georgia. He attended Northside High School and later pursued higher education at the University of Pennsylvania's Wharton School, where he earned his undergraduate degree. He then obtained his MBA from Stanford University’s Graduate School of Business.13

Career at Costco

Galanti joined Costco in 1984 as Vice President of Finance, shortly after the company was founded. At that time, Costco had only four locations in the Pacific Northwest. He became CFO in 1985 and has been instrumental in expanding Costco into one of the largest retailers in the world, with over 875 warehouses globally and revenues surpassing $242 billion in 2023.145

Throughout his tenure, Galanti has been recognized as the "voice" of Costco during earnings calls, providing transparency and insight into the company's operations and financial health. His leadership helped Costco maintain a strong customer loyalty and a low employee turnover rate, which is rare in the retail industry.34

Recent Developments

As of February 2024, Galanti announced his intention to step down as CFO, with plans to transition his responsibilities to Gary Millerchip, the former CFO of Kroger. He will remain with Costco in an advisory role until January 2025 and continue to serve on the Board of Directors.234

Personal Life

Richard Galanti lives in Issaquah, Washington, with his wife, Barrie, and they have three children. He is actively involved in community service and emphasizes the importance of giving back, reflecting Costco's corporate values.13