If we want to protect nature and support communities, businesses cant continue to adhere to the prevailing economic model. Weve pledged 1% of sales to the preservation and restoration of the natural environment. They will also guide the philanthropic work performed by the Holdfast Collective. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. Patagonia Works succeeds Lost Arrow Corporation as the holding company for Patagonia, Inc. (apparel), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), and future investments and joint ventures. And while there will be more tough days ahead as we challenge norms, I am excited to do the work alongside Patagonias talented and passionate professionals. Three months after the somewhat sudden resignation of Rose Marcario, who led the company for 12 years, Patagonia has named Ryan Gellert as its new CEO of Patagonia Works, the umbrella company for all its ventures, from clothing to smoked salmon to documentaries. Three examples: Every year for 30 years, Patagonia has donated one percent of its sales to grassroots environmental organizations. As the business leader I never wanted to be, I am doing my part. One option was to sell Patagonia and donate all the money. I am honored and humbled by the opportunity andkeenly aware of the responsibility to lead this company in this critical time, stated Gellert. Ive made no secret that I hold a fairly skeptical view of the business world. Each year, profits that are not reinvested back into the business will be distributed by Patagonia as a dividend to the Holdfast Collective to help fight the climate crisis. Taldi serves on the Board of Directors of the . Rick Ridgeway VP Environmental Initiatives and Special Media Projects Ed Auman Business Unit Director- Fieldwear Ryan Gellert Chief Executive Officer Cory Bayers Vice President Global Marketing Yvon Chouinard Founder What does this mean for Patagonia employees? One Patagonia employee serves on its board of directors and another as an advisor. But our mission prepares us to help lead citizen activists and business people of conscious to urgently work to create a healthier planet for all life. We helped initiate the Sustainable Apparel Coalition. 0000007791 00000 n
Effective immediately, the Chouinard family has transferred all ownership to two new entities: Patagonia Purpose Trust and the Holdfast Collective. The approach included connecting individually with each core team member, business unit director and channel VPs as part of the pre-planning process. It will make the company more competitive and its employees around the world will forever be empowered by purpose. Kristine McDivitt Tompkins, Every time you read a new scientific report, it's clear the climate crisis is happening faster than we thought and it's worse than we thought. Angling Trade E-Survey: Whats the ideal age to start teaching a kid fly fishing? 0000005669 00000 n
He also launched Patagonia Action Works in the region,an online tool to connect people with local and global environmental groups, allowing them to take action on causes they care about. Despite the misguided opinions of this Court, were more determined than ever to save our home planet. As we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia committed to using our company to change the way business was done. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Acting together, Patagonias board and the Patagonia Purpose Trust will work for the companys continued success over the long term while ensuring it stays true to its purpose and values. Each will be organized as a B Corp (benefit corporation), be amember of 1% for the Planet and utilize the Higg Index or other appropriate footprint-based measurementof social and environmental performance. Patagonia respectfully asks the Bureau of Land Management and Biden Administration to require a comprehensive review of the climate and conservation consequences of the Willow Project. Ambitions dont get much bigger than that. This is what we can do. Lisa Williams, who joined Patagonias product team in 2001, will assume a new executive role as head of innovation, design and merchandising. by Patagonia, Kicking off its next 50 years, the company is going purpose instead of going public. Concerned about the environmental impact? Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. Subsidized, on-site high-quality child care. No ones expectations of Patagonia are higher than our own. Buy used, trade in and fix your gear through Worn Wear. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia Inc. Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. by Patagonia. Please remove some items to proceed. OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. Patagonia has long taken. Christopher van Tienhoven was appointed to the Patagonia Board on June 10, 2015. Patagonia Works will also serve as an umbrella for new businesses the company invests in or develops in the future. But its also resilient. Acting together, Patagonia's board and the Patagonia Purpose Trust will work for the company's continued success over the long term while ensuring it stays true to its purpose and values. We gave away 1% of sales each year. Unlike a traditional holding company, whose primary purpose is to reduce risk through diversification of assets, Patagonia Works aims to invest in companies working to bring about positive change in five critical areas: clothing, food, water, energy and waste. Message and data rates may apply. Her work focuses on fostering collaborative partnerships with a number of national nonprofits and decision-makers at the federal level to ensure access to and infrastructure for inspiring outdoor recreation opportunities. He has extensive experience working with direct action environmental groups, having served on the boards of Access Fund, Protect Our Winters, the European Outdoor Group and the Soil Heroes Foundation. Introducing Patagonia Works, a new kind of holding company. Ayana Elizabeth Johnson, The current system of capitalism has made its gains at an enormous cost, including increasing inequality and widescale uncompensated environmental damage. Companies that create the next model of capitalism through deep commitment to purpose will attract more investment, better employees, and deeper customer loyalty. Whats changed now is that the company has additional stewardship from the Patagonia Purpose Trust. What is Patagonia Works? Will Patagonia as a company continue to donate 1% of sales for the planet? Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups?Absolutely. PATAGONIA WORKS FISCAL YEAR 2013 7 In 2011, in preparation for our conversion to a benefit corporation, Patagonia developed specific public benefit purposes to reflect our values and mission. Alongside this announcement, Jenna Johnson has been promoted from leader of Patagonias technical outdoor biz to Head of Patagonia Inc. Press Release: By providing your email address, you agree to our Privacy Policy and Terms of Service. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. Seize the opportunity to lead the world in clean energy manufacturing and deployment to create jobs, strengthen supply chains and reduce costs for customers. I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. And that bestows on our family a serious responsibility. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. Since 2014, he has elevated Patagonia to a position ofleadership in Europes outdoor industry and environmental communities. Further, Gellerts attentiveness and dedication to seeing others excel, and his passion for Patagonias product and activism, made him the right choice for the organizations next chapter. Biogeosciences 12, 19 (2020), Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. Buy used, trade in and fix your gear through Worn Wear. Founded by Yvon Chouinard in 1973, Patagonia Works (Patagonia) is a certified B Corporation based in Ventura, California. Williams will continue to report to the CEO in this critical new role. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. Another path was to take the company public. Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. Track orders, save products, easy hassle-free returns & exchanges. Ryan holds a JD from the S.J. Jenna Johnson, who previously led Patagonias technical outdoor business, will serve as head of Patagonia, Inc., where she will oversee Patagonias apparel and equipment division as the company works to align its business more stronglywith its mission and sport communities. Prior to his time at Patagonia, Gellert was president of Black Diamond, where he worked for nearly nine years and prior was a volunteer legal intern with the ACLU of Utah. Family members will continue to sit on Patagonias board, along with Kris Tompkins, Dan Emmett, Dr. Ayana Elizabeth Johnson, Charles Conn (chair of the board), and Ryan Gellert, our CEO. Everything we do needs to ladder back to our mission of being in business to save our home planet, and we need to do that in a way that is just, equitable and inclusive of all people. What is the Holdfast Collective and what does it do? Ryan is the right person with the best experience and leadership approach to guide our company. Please remove some items to proceed. They are the future of business if we want to build a better world, and that future starts with what Yvon is doing now. Charles Conn, chair of the board, As founder of a company that has been in business for nearly 50 years, Ive seen the positive and negative impact a business can have on its communities and employees. We needed to find a way to put more money into fighting the crisis while keeping the companys values intact. By providing your email address, you agree to our Privacy Policy and Terms of Service. Everything we make has an impact on people and the planet. We are committed to the lifelong work of being more inclusive, being anti-racists is essential to our mission to save life on our home planet, said Kris Tompkins, who was Patagonias first CEO and currently serves on the companys board of directors. This elite creative team also includesTin Shed Venturesand Patagonias repair, share and recycle business,Worn Wear. Angling Trade, LLC. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. What is a B Corp (benefit corporation)? Web SpecialsSave on Gear for Your Next Trip. How does Patagonia, the clothing brand, fit into Patagonia Works?Patagonia will live under the Patagonia Works umbrella. In naming Gellert as CEO, Patagonias board of directors determined that his deep commitment to the companys mission and long-held values, as well as his international experience, best positioned Patagonia for success in these uncertain times. Create a free Patagonia account. 0000004835 00000 n
Additionally, all companieswill have direct sales as a component. Why will each company under Patagonia Works beorganized as a B Corp? 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This is what we can do. September 24, 2020 View Ironclad Guarantee Know how your clothes are made. Text STOP to cancel. 21, 2022). But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. Its unique ownership structure reflects that Earth is its only shareholder: Profits not reinvested back into the business are paid as dividends to protect the planet. Finally, we request that the Final Report focus on the planning and programs needed to reach an ultimate goal: full recovery and delisting of endangered species. That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. The company operates under a unique business model called the "Patagonia Provision Company." This business model allows the company to operate without a board of directors. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. You have exceeded the maximum number of line items for your cart (50). Additional Quotes from Patagonia Board of Directors . Earthjustice appreciates the Subcommittees focus on increasing the role of Tribes and Native groups in hydropower development, and the recognition that hydropower facilities cause significant harms to fish, wildlife, and ecosystems. The Holdfast Collective owns all the nonvoting stock (98 percent of the total stock), and it will use every dollar received from Patagonia to protect nature and biodiversity, support thriving communities and fight the environmental crisis. Executive headshots can be downloadedHERE. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. Patagonia serves customers worldwide. The stakes could not be higher. Chouinard, his wife and two adult children CHILDREN 0.0% have transferred their ownership of Patagonia, valued at about $3 3 0.0% billion, to a specially designed trust and a nonprofit. Since 2014, he has elevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities. Everything we make has an impact on people and the planet. %PDF-1.4
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Hear the latest economic, business and market news, as well as global, national, and local news. Patagonia will remain a B Corp and continue to give one percent of sales each year to grassroots activists. A Certified B Corporation, the company is recognized internationally for its commitment to product quality and environmental activismand its contributions of more than $110 million in grants and in-kind donations to date. 0000013972 00000 n
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Our Company History - Patagonia Shop Activism Sports Stories Company History We guarantee everything we make. Truth be told, there were no good options available. Reduce inequity by targeting climate and clean energy investments in disadvantaged and frontline communities. Prior to his appointment to this global role, Ryan spent six years as Patagonias general manager of Europe, the Middle East and Africa. With 20 years as an outdoor industry professional, and as a lifelong climber and someone who enjoys biking, running and skiing, she has deep roots in Patagonias sport communities. Patagonias mission statement inspired the creationof Patagonia Works, and that mission statement will be infused into each company and brand extensionwithin Patagonia Works. More recently, in 2018, we changed the companys purpose to: Were in business to save our home planet. Patagonia Works ("Patagonia") is an outdoor apparel company with an almost 50-year history of environmental conservation and activism. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. The Patagonia Purpose Trust was created solely to protect our companys values and mission. Patagonia's Chief Executive Officer is Ryan Gellert. URGENT ACTION ALERT: Montana Stream Access Under Threat, U.S. Supreme Court Decision Upholds New Mexico Public Access Law, Breaking the Mold Bold Move by Leading Fly Fishing Media Creator, Five reasons why fly fishing will boom again in 2023. Patagonia to a position patagonia works board of directors leadership in Europes outdoor industry and environmental communities keeping the companys intact... Corp ( benefit Corporation ) impact on people and the planet earth-tax changes within the leadership team by elevating Johnson! Benefit Corporation ) member, business and market news, as well global! Channel VPs as part of the pre-planning process and brand extensionwithin Patagonia Works.... 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