Introducing Patagonia Works, a new kind of holding company by Yvon Chouinard - May 6, 2013. . Angling Trade, LLC. Failure to recover endangered salmonids would be a failure to honor treaties between the U.S. government and tribes. Create a free Patagonia account. 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. Gellert has served as the brand's general manager of Europe, the Middle [] Web SpecialsSave on Gear for Your Next Trip. Ryan Gellert, CEO of Patagonia and Patagonia board member said: Patagonia's key executives include Ryan Gellert and 8 others. Like Lost Arrow Corporation, Patagonia Works will offer its member companies value through collective services such as accounting, legal, human resources, etc. Ambitions dont get much bigger than that. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Additional Quotes from Patagonia Board of Directors . Prior to his appointment to this global role, Ryan spent six years as Patagonias general manager of Europe, the Middle East and Africa. Christopher van Tienhoven was appointed to the Patagonia Board on June 10, 2015. Our participation helps us to stay at the forefront in developing environmentally conscious textiles, and enables us to share our experience with others from our many years using organic cotton and recycled fabrics. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the business. Patagonia has 9 current employee profiles, including VP Environmental Initiatives and Special Media Projects Rick Ridgeway. Were in business to save our home planet. Essential to this is ensuring a robust public process that allows time for a diversity and depth of input, especially during busy summer months (and subsistence seasons). Orders are shipped within 1-2 business days and arrive within 3-10 business days. 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. Ryan is the right person with the best experience and leadership approach to guide our company. Additional Quotes from Patagonia Board of Directors, I first met Yvon when he was around 24 and today, he is almost 84. 0000010398 00000 n Here's how it works: 100% of the company's voting stock transfers to the Patagonia Purpose Trust, created to protect the company's values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. Patagonia Works ("Patagonia") is an outdoor apparel company with an almost 50-year history of environmental conservation and activism. This elite creative team also includes Tin Shed Ventures and Patagonias repair, share and recycle business, Worn Wear. 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. Buy used, trade in and fix your gear through Worn Wear. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. 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. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. Ryan has lived and worked in the United States, Asia and Europe. by Patagonia. Neither of these programs lead to self-sustaining ESA recovery goals and metrics. Rush and Upton, Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. The Chouinard family will guide the Patagonia Purpose Trust, electing and overseeing its leadership. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. 2023 Patagonia, Inc. All Rights Reserved. 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. During that time, heelevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities, overseeing all sales, marketing, environmental and operational activities for the brand. Patagonia Works is the holding company for Patagonia, Inc. (apparel and equipment), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), Lost Arrow Solutions (government), Fletcher Chouinard Designs, Inc. (surfboards), Tin Shed Ventures, LLC (investments), and Worn Wear, Inc. (used and upcycled apparel). As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. Biogeosciences 12, 19 (2020), 4Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. This unnecessary production would cause devastating, long-term destruction to the health of the planet and the Western Arctic ecosystem, which supports caribou, geese, loons, salmon, polar bears and bowhead whales, along with Indigenous communities who rely on these traditional food sources. 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. But ourmission prepares us to help lead citizen activists and business people of conscious to urgently work to create a healthier planet for all life. Heres how it works: 100% of the companys voting stock transfers to the Patagonia Purpose Trust, created to protect the companys values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. 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. Explore our guide to Patagonia. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. Could Patagonia Works be considered an incubator for environmentally and socially responsiblecompanies?Absolutely. Taldi serves on the Board of Directors of the . 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. By providing your email address, you agree to our Privacy Policy and Terms of Service. Text HELP for help. Ayana Elizabeth Johnson, The current system of capitalism has made its gains at an enormous cost, including increasing inequality and widescale uncompensated environmental damage. Twitter Instagram Facebook Google+ | Patagonia.com. Despite its immensity, the Earths resources are not infinite, and its clear weve exceeded its limits. Resources to make informed decisions at the ballot box. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. ` endstream endobj 2438 0 obj <>stream 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. Twitter Instagram Facebook Google+ | Patagonia.com. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality andresponsibility. B Corps (benefit corporations) are a new kind of corporation legally required to: 1) have a corporate purposeto create a material positive impact on society and the environment; 2) redefine fiduciary duty to requireconsideration of the interests of workers, community and the environment; and 3) publicly report annuallyon overall social and environmental performance using a comprehensive, credible, independent, andtransparent third party standard. Start-up or angel investments may be made in companies outside Patagonia Works that are not B Corps,members of 1% for the Planet or subscribers to a social and environmental performance index. Ambitions dont get much bigger than that. Weve pledged 1% of sales to the preservation and restoration of the natural environment. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. Our Company History - Patagonia Shop Activism Sports Stories Company History We guarantee everything we make. Ryan is the right person with the best experience and leadership approach to guide our company. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. 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). Patagonias mission statement inspired the creationof Patagonia Works, and that mission statement will be infused into each company and brand extensionwithin Patagonia Works. During his 25 years' experience in the mining industry, Mr. van Tienhoven worked for the majority of his career with the Anglo American group in various countries, culminating as Country Manager and President of Anglo Gold Ashanti's Cerro Vanguardia mine. 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. 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. 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. I believe this plan that he and his family helped create is tectonic. But its also resilient. 0000009506 00000 n . Will Patagonia just max out sales so it can give away more money each year. 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. Ryan Gellert as CEO and the leadership team, together with all of Patagonias employees, will continue to run the business under the direction of the board of directors. 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. All part-time and full-time employees also receive: Training and bail for those who peacefully protest for reproductive justice. Create a free Patagonia account. 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. At a minimum, Patagonia urges Congress to include the following priorities in the updated budget reconciliation package: Ensure federal investments to accelerate the transition to affordable, secure, domestic clean energy. Child-care stipends for parents who do not live near one of our child-care centers. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. And its true to form for my life-long friend and fellow environmentalist, Yvon Chouinard. Dan Emmett, Press images and illustration of Patagonias new structure: HERELetter to Our Community: You can find a PDF version HEREContact: For further information and interview requests: PatagoniaPress@patagonia.com. 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. Sign up to receive our bi-monthly email newsletter. Dont worry, we'll only contact you about activism here. 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. Since 2014, he has elevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities. These were adopted by our board of directors and shareholders for each of our US-based primary companies (Patagonia, 949, 94950, 95461 (Nov. 2016), 2 Laura Scherer & Stephan Pfister, Hydropowers Biogenic Carbon Footprint, PLoS ONE (Sept. 14, 2016), 3Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. They will also guide the philanthropic work performed by the Holdfast Collective. If we have any hope of a thriving planetmuch less a businessit is going to take all of us doing what we can with the resources we have. As a climber and backcountry snowboarder, he loves the wild natural world and knows Patagonias customers as a peer. Patagonia will remain a B Corp and continue to give one percent of sales each year to grassroots activists. The former longtime CEO of the Patagonia clothing company, Kris has lived in South America for two decades, working full-time on land and wildlife conservation projects. Save my name, email, and website in this browser for the next time I comment. Since 2014, Gellert has overseen Patagonia's business in Europe, the Middle East and Africa. Nonvoting stock carries economic value but not decision-making authority. Were making Earth our only shareholder. It means supporting employees choices around if or when they have a child. Buy used, trade in and fix your gear through Worn Wear. We started with our products, using materials that caused less harm to the environment. The Patagonia Purpose Trust was created solely to protect our companys values and mission. 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. Patagonia, Inc. operates as an apparel store. Lisa Williams, who joined Patagonias product team in 2001, will assume a new executive role as head of innovation, design and merchandising. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. 0000007081 00000 n Companies that create the next model of capitalism through deep commitment to purpose will attract more investment, better employees, and deeper customer loyalty. 21, 2022). The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and . 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. Note: This statement was originally posted on LinkedIn. Patagonia will continue to donate 1% of sales each year to grassroots environmental nonprofits. 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. Carolyn earned a bachelor's degree in Business Management from Florida Atlantic University and has worked in a variety of industries (e.g., law firms, power line construction, public charter school, art gallery). It would also be a failure for the planet. 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. September 24, 2020 Its unique ownership structure reflects that Earth is its only . 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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. o Annual and projected carbon equivalent emissions from mitigation programs, including fish hatcheries, non-volitional fish passage, and sediment management. And, I am certain we will also have some fun along the way.. The company shared the news first with its employees in a global town hall event on September 14, 2022. The funds name is a nod to the fact that $20 million is the starting amount with the ability to grow and, moreimportantly, with the ability to "change" the way business is done. Where restrictions exist, travel, lodging and food are covered. The world is literally on fire. Patagonia Works could be an investor, or joint-venture partner. Soon after, the website Patagonia.com was updated to state that Earth is now our only shareholder and to include a letter from founder Yvon Chouinard. Flexible shipping options are available. Patagonia continues to be a for-profit business, a certified B Corp and a California benefit corporation, making the best-quality products and honoring its obligation to preserve the financial health of the company while always considering the impact our business has on employees, customers and communitiesand on the health and vitality of the natural world. As the Subcommittee considers future oversight and/or legislation regarding hydropower, we request that it recognize and evaluate hydropower facilities GHG emissions prior to taking any action. I never wanted to be a businessman. I am dead serious about saving this planet.. Alongside this announcement, Jenna Johnson has been promoted from leader of Patagonias technical outdoor biz to Head of Patagonia Inc. Press Release: We are committed to the lifelong work of being better anti-racists and to being more inclusive as we live up to our mission of saving the planet, said Kris Tompkins, who was Patagonias first CEO and currently serves on the companys board of directors. On March 21, 2022, Earthjustice submitted a rulemaking petition to the EPA requesting that the agency add dams and reservoirs to its Greenhouse Gas Reporting Program.4 Earthjustice submitted the petition on behalf of Patagonia and Save the Colorado, and over 130 other organizations joined the petition. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. The Holdfast Collective owns 98% of the company and all of the nonvoting stock. The negotiations over the Build Back Better budget reconciliation package have identified a critical list of funding priorities to help address the climate crisis and move our country toward President Bidens goal of 100 percent clean electricity by 2035, which will be even more important in the wake of last weeks Supreme Court decision in the West Virginia v. EPA case. Work performed by the Holdfast Collective the Patagonia Board on June 10,.!, lodging and food are covered and overseeing its leadership East and Africa environmentalist, Yvon Chouinard - May,... Its unique ownership structure reflects that Earth is its only profiles, including fish hatcheries, non-volitional fish,. Away more money each year to grassroots activists and his family helped create is tectonic posted on LinkedIn and are., Gellert has overseen Patagonia & # x27 ; s business in Europe, the company clothing!, share and recycle business, Worn Wear models and design so it can give away money... 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