Patagonia Works will also serve as an umbrella for new businesses the company invests in or develops in the future. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Whats the ideal age to start teaching a kid fly fishing? Patagonia operates its apparel and equipment, food, and related businesses through the following subsidiaries: Patagonia, Inc. (apparel and equipment), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), Fletcher Chouinard Designs, Inc. (surfboards), Tin Shed Ventures, LLC (investments), and Worn Wear, Inc. (used and upcycled apparel), and Great Pacific Child Development Center (onsite childcare and development). As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. In contrast, current law requires corporations to prioritize the financialinterests of shareholders over the interests of workers, communities and the environment.In January 2012, Patagonia Inc. was one of the first companies in California to register as a B Corp. Eachcompany under the Patagonia Works will have a common, ethos-led mission and will register as a B Corp toensure that its values live in perpetuity. Ryan Gellert will continue to serve as CEO and the Chouinard family 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. On behalf of Patagonias employees and the planet we all depend on, I strongly urge your support for the once-in-a-generation opportunity to avoid the direst impacts of the climate crisis by supporting investments in clean energy in the budget reconciliation package. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality andresponsibility. (Podcast). More recently, in 2018, we changed the companys purpose to: Were in business to save our home planet. You have exceeded the maximum number of line items for your cart (50). Gellert has overseen . 0000006513 00000 n This is not an excuse to ignore the real tension well continue to face between growth and the environmental impact of our operations. By providing your email address, you agree to our Privacy Policy and Terms of Service. 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. What are the shared attributes of each company under Patagonia Works?Each company within Patagonia Works will share the core values of Patagonia Inc.: quality,environmentalism, corporate transparency and not being bound by convention. We will keep doing all of the great things that built Patagonia, and the company will keep doing its best to be a great employer. 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. BY Sophie Mellor. In a very short time, the Coalition has launched an index of social and environmental performance that designers (and eventually consumers) can use to make better decisions when developing products or choosing materials. Subsidized, on-site high-quality child care. By providing your email address, you agree to our Privacy Policy and Terms of Service. We believe this new structure delivers on both and we hope it will inspire a new way of doing business that puts people and planet first.. I look forward to working with you and other partners from the government, NGOs and private sector to support climate action in our communities. Introducing Patagonia Works, a new kind of holding company. Were in business to save our home planet. 0000004835 00000 n September 15, 2022, 5:30 AM PDT. View Ironclad Guarantee Know how your clothes are made. Patagonia is not immune to the health, economic, social and climate crises we are facing, and the last year has been one of the most challenging in our companys history. Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups?Absolutely. And that bestows on our family a serious responsibility. 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. The Chouinard family will guide the Patagonia Purpose Trust, electing and overseeing its leadership. 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. I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. I dont like to think of myself as a businessman. And, I am certain we will also have some fun along the way.. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. 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. Whats changed now is that the company has additional stewardship from the Patagonia Purpose Trust. So, we created ourown. Ryan Gellert has been named the new CEO of Patagonia Works- he has a proven track record and heaps of experience in leadership, international business, and the daily functioning of Patagonia, as well as their future goals. Everything we make has an impact on people and the planet. While were doing our best to address the environmental crisis, its not enough. 0000002888 00000 n Patagonia serves customers worldwide. Need it sooner? 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. 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. 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. 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. Hans is the Environmental Campaigns and Advocacy Director at Patagonia . wBDX4@m@4QP^ ty.`9 h$30B@l & c}/NL/%2k0[2n:xQ1S)(LNd"QJjFcN=BiEg`hb~6EeM?xTe` z endstream endobj 2450 0 obj <>/Filter/FlateDecode/Index[174 2256]/Length 67/Size 2430/Type/XRef/W[1 1 1]>>stream The Patagonia Purpose Trust now owns all the voting stock of the company (two percent of the total stock) and exists to create a more permanent legal structure to enshrine Patagonias purpose and values. 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. If we have any hope of a thriving planet 50 years from now, it demands all of us doing all we can with the resources we have. 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. 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. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. 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Failure to recover endangered salmonids would be a failure to honor treaties between the U.S. government and tribes. Who is the CEO and President of Patagonia Works?Ryan Gellert is chief executive officer (CEO) of Patagonia Works and Patagonia, Inc. 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. Despite its immensity, the Earths resources are not infinite, and its clear weve exceeded its limits. Its unique ownership structure reflects that Earth is its only . Of line items for your cart ( 50 ) Works will also serve as umbrella... Treaties between the U.S. government and tribes to grassroots environmental groups? Absolutely and tribes exceeded limits! On our family a serious responsibility your cart ( 50 ) and the planet 00000 n 15... 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