Costco Co-Founder, Robert Craves, has Passed Away

Costco Co-Founder, Robert Craves, has Passed Away

Robert “Bob” Craves, Costco Co-Founder and Philanthropist, has passed away at the age of 72.  College Success Foundation, a nonprofit he co-founded in 2000 to provide scholarships and mentorships to low-income youth, announced his passing.

The Foundation said, “Our hearts are heavy as we say a final farewell to our dear co-founder and former CEO and chair of the College Success Foundation (CSF) - Robert “Bob” E. Craves. Our visionary leader passed away on November 5, 2014, following a brief struggle with cancer. He died peacefully, surrounded by his family.”

The Los Angeles Times reports that Craves worked as a marketing executive in Los Angeles for Builders Emporium when Jim Sinegal, the man who hired him, recruited him to become a founding officer of Costco in 1983.  He spent the next 17 years with the company as a Senior Vice President.

Sinegal, the now retired Costco CEO, spoke to the Times about Bob, saying, “He could always find the good thing in every situation.  Most people couldn’t.”

After he left Costco, Bob led CSF for the 13 years since he co-founded it.  The Foundation says that he raised $600 million to further educational opportunities for vulnerable youth in that time.  By the end of 2013, over 12,000 scholarships were disbursed and almost 4,000 CSF Scholars had earned bachelor’s degrees, with thousands more still attending college.

He is survived by his wife of 42 years, Gerri; their daughter, Stacie, of Seattle; sisters Teri Renz, of Napa, Calif., and Mary Holland, of Des Moines; brother Jim Craves, of Portland, Maine; and two grandchildren.

AndNowUKnow would like to offer our heartfelt sympathies to Bob’s family and friends. He will certainly be missed.