Greetings, readers. I’m Phil Wahba, senior writer on Fortune's leadership beat.
Conventional wisdom in the business world holds that a company lifer can be a risky choice as a new CEO. Such a person is often too entrenched, the stereotype goes, to bring in fresh ideas. That can be especially true in retail, with its constant upheaval.
Ron Vachris of Costco Wholesale offers a counterpoint: The 41-year veteran of the bulk retailer took its reins in January, decades after starting as a teenaged forklift driver at Price Club (which went on to become part of the Costco empire).
