Jim Sinegal is the boss at the US Costco chain. Costco’s stock price has doubled while he has been in charge.
- Sinegal’s name tag just says ‘Jim’.
- He answers his own phone.
- His headquarters office doesn’t have walls.
- He earns an annual salary of US$350,00. He reckons he should not be paid more than 12 normal company workers.
- He has a one page contract which says he can be sacked if doesn’t do his work.
- His employee turnover rate is the lowest in the retail industry, over five times less than rival Wal-Mart.