Costco names new chairman

ISSAQUAH, Wash. — Costco has named one of its longtime directors chairman of its board of directors. The company on Thursday announced the board’s board election of Hamilton “Tony” James to the position.

James is Blackstone Group president and COO, as well as a member of Blackstone Group Management’s board of directors. He is 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.