These were adopted by our board of directors and shareholders for each of our US-based primary companies (Patagonia, 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. Failure to recover endangered salmonids would be a failure to honor treaties between the U.S. government and tribes. HmO0SDZ]-!$t4$6"M[I&6m UO6|}& WFs 'GoF `ptbzV_ Tl PM 4 Why? Williams will continue to report to the CEO in this critical new role. Our team would welcome the opportunity for more dialogue. 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. Patagonias mission statement inspired the creationof Patagonia Works, and that mission statement will be infused into each company and brand extensionwithin Patagonia Works. H\n0~ o Annual and projected carbon equivalent emissions from mitigation programs, including fish hatcheries, non-volitional fish passage, and sediment management. The Chouinard family will also guide the companys controlling shareholder, the Patagonia Purpose Trust, electing and overseeing Patagonias board of directors. 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. 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. 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 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. by Patagonia. Before joining Patagonia, he spent 15 years at Black Diamond Equipment, where he held a number of roles, including brand president, vice president of supply chain management and managing director of Black Diamond Asia. In addition to this role, Dr. Soley is Chairman and CEO of the Object Management Group. Dont worry, we'll only contact you about activism here. OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. Patagonia will remain a B Corp and continue to give one percent of sales each year to grassroots activists. Ryan Gellert, CEO of Patagonia and Patagonia board member said: Two years ago, the Chouinard family challenged a few of us to develop a new structure with two central goals. Since 2014, Gellert has overseen Patagonia's business in Europe, the Middle East and Africa. VENTURA, Calif. (September 14, 2022) Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. Need it sooner? Message and data rates may apply. ` endstream endobj 2438 0 obj <>stream Will Patagonia Works wholly own any of the companies it invests in?Not necessarily. Now is the time for Patagonia to take the next logical step: to reach out beyond the framework of the apparel and outdoor industries. 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. 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. 2430 0 obj <> endobj xref 2430 22 0000000016 00000 n 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. 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. Each company may leverage the following shared corporateservices: environmental, legal, finance, technology, distribution, and human resources. 11 ; Sharing Best Practices . 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. More recently, in 2018, we changed the companys purpose to: Were in business to save our home planet. 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. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); 2008-2022. September 15, 2022, 5:30 AM PDT. 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. If we could do the right thing while making enough to pay the bills, we could influence customers and other businesses, and maybe change the system along the way. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. The Chouinard family will guide the Patagonia Purpose Trust, electing and overseeing its leadership. But these companies must share our core values and their work must help provide solutions to the environmental crisis. Twitter Instagram Facebook Google+ | Patagonia.com. Christopher van Tienhoven was appointed to the Patagonia Board on June 10, 2015. Ryan holds a JD from the S.J. Reduce inequity by targeting climate and clean energy investments in disadvantaged and frontline communities. Twitter Instagram Facebook Google+ | Patagonia.com. By providing your email address, you agree to our Privacy Policy and Terms of Service. The Patagonia Purpose Trust was created solely to protect our companys values and mission. 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. Patagonia serves customers worldwide. Could Patagonia Works be considered an incubator for environmentally and socially responsiblecompanies?Absolutely. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. Williams will continue to report to the CEO in this critical new role. The leadership of the company does not change. It means giving parents the resources they need to work and raise children. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. 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. The company is owned by Chouinard and Tompkins, who are the co-founders. Patagonia Works will also serve as an umbrella for new businesses the company invests in or develops in the future. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. BY Sophie Mellor. 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. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. The stakes could not be higher. . Requiring dams and reservoirs to report their GHG emissions will also ensure that federal and state agencies and utilities make decisions on the future of the electric sector based on the best available information regarding hydropowers GHG emissions, and not risk inadvertently pursuing a clean energy future that is not actually clean. 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. I started as a craftsman, making climbing gear for my friends and myself, then got into apparel. Create a free Patagonia account. Web SpecialsSave on Gear for Your Next Trip. 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. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia, Inc. September 24, 2020 by Patagonia VENTURA, Calif. (September 24, 2020) Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. Under Ryans stewardship, Patagonia launched its first global environmental campaign around a European initiative: Save the Blue Heart of Europe, an international crusade toprotect the last wild rivers of Europe from over 3,000 planned hydropower projects. 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. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. 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. }gt%vP5pO*,K. 0000001559 00000 n Patagonias new owners are the Holdfast Collective and the Patagonia Purpose Trust. 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. trailer <<01B69396AD8144B882DB6E07C9094736>]/Prev 218095/XRefStm 1559>> startxref 0 %%EOF 2451 0 obj <>stream Sign up to receive our bi-monthly email newsletter. 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. 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. Weve pledged 1% of sales to the preservation and restoration of the natural environment. Yvon Chouinard, Patagonia founder, former owner, and current board member said: Its been a half-century since we began our experiment in responsible business. 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 Ryan Gellert Chief Executive Officer Matt Dwyer VP, Product Impact & Innovation Glen Morden VP, Product Creation Cara Chacon VP, Social & Environmental Responsibility Bruce Old VP, Global Wholesale K. Corley Kenna 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. By providing your email address, you agree to our Privacy Policy and Terms of Service. Twitter Instagram Facebook Google+ | Patagonia.com. Sign up for exclusive offers, original stories, activism awareness, events and more. Everything we make has an impact on people and the planet. Alongside this announcement, Jenna Johnson has been promoted from leader of Patagonias technical outdoor biz to Head of Patagonia Inc. Press Release: Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. Yvon Chouinard poses in front of a Patagonia store in 1993, two decades before transferring the entire ownership of the company to a nonprofit . Note: This statement was originally posted on LinkedIn. 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. That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. Patagonia, Inc. operates as an apparel store. We must aim for this ultimate goal: bringing wild species back to natural, self-sustaining abundance. Today, my family and I are happy to launch $20 Million and Change, an internal fund to help like-minded, responsible start-up companies bring about positive benefit to the environment. Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups?Absolutely. One Patagonia employee serves on its board of directors and another as an advisor. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Will Patagonia just max out sales so it can give away more money each year. See the original here. Child-care support for parents on work trips. 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. Some Patagonia Works investments could be smaller seed investments to fledgling, responsiblecompanies in need of capital. So, we created ourown. It will help ensure that there is never deviation from the intent of the founder and to facilitate what the company continues to do best: demonstrate as a for-profit business that capitalism can work for the planet. 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. Were in business to save our home planet. Please remove some items to proceed. Track orders, save products, easy hassle-free returns & exchanges. 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. Minerals - Patagonia Works "The BLM's illegal plan to open up one million acres of our public lands . The Willow Project is the largest oil extraction project currently proposed on U.S. federal lands. I never wanted to be a businessman. View Ironclad Guarantee Know how your clothes are made. This is not an excuse to ignore the real tension well continue to face between growth and the environmental impact of our operations. 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. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia, Inc. 0 By Angling Trade on 09/25/2020 Industry News, People News Ryan Gellert Jenna Johnson From Patagonia: Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. Patagonia is a Certified Benefit Corporation that has contributed more than $145 million to grassroots nonprofits working to protect people and the planet. Everything we make has an impact on people and the planet. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Dont worry, we'll only contact you about activism here. VENTURA, Calif. (September 24, 2020)Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. He will be supported by our incredible leadership team, both new and ongoing, and staff of all levels, who have helped make our company what it is today. 0000004835 00000 n 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. 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. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the business. Who is the CEO and President of Patagonia Works?Ryan Gellert is chief executive officer (CEO) of Patagonia Works and Patagonia, Inc. Patagonia's key executives include Ryan Gellert and 8 others. 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. As noted in a recent petition to the EPA signed by more than 140 organizations, Petition-for-rulemaking-to-add-dams-and-reservoirs-as-a-source-category-under-the-Greenhouse-Gas-Reporting-Program.pdf (tellthedamtruth.com), a growing body of research shows significant greenhouse gas emissions (including CO2 and CH4) from reservoirs and other dam and reservoir operations. 0000007791 00000 n ;"6r57dtf-Xa.9ZXyWQ%s;3eZ:u5>YLV >zO=5Qmv+d Nzym0KTCGWp:05@@6LhhdYTfNO]vGc1Y/XWqWU3Aa+::@4(M X &700 We started with our products, using materials that caused less harm to the environment. Bobby L. Rush, ChairmanHouse Subcommittee on EnergyHouse Committee on Energy & Commerce 2125 Rayburn House Office Building Washington, DC 20515, Fred Upton, Ranking MemberHouse Subcommittee on EnergyHouse Committee on Energy & Commerce 2322 Rayburn House Office Building Washington, DC 20515, Re: Hydropower Licensing Reform and Greenhouse Gas Emissions from Hydropower Facilities. 0000005669 00000 n (Podcast). The company has pulled its vests and jackets after a co-owner of the resort hosted a right-wing fundraiser with, among others in attendance, Rep. Marjorie Taylor Greene. Buy used, trade in and fix your gear through Worn Wear. What is the Holdfast Collective and what does it do? This is what we can do. 0000007081 00000 n The last line of Patagonias mission statement is use business to inspire and implement solutions to the environmental crisis. Weve always taken that seriously. Buy used, trade in and fix your gear through Worn Wear. The company announced today that Ryan Gellert will become CEO of Patagonia Works, the umbrella company for all its ventures, from clothing to smoked salmon to documentaries. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia, Inc. From Patagonia: Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. This elite creative team also includesTin Shed Venturesand Patagonias repair, share and recycle business,Worn Wear. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. Find contact's direct phone number, email address, work history, and more. Twitter Instagram Facebook Google+ | Patagonia.com. 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. Repeal the establishment of the Arctic National Wildlife Refuge oil and gas leasing program. Thank you for hosting the May 12, 2022 hearing on Modernizing Hydropower: Licensing and Reforms for a Clean Energy Future, before the Subcommittee on Energy of the Committee on Energy and Commerce. Burning the oil produced from this project would release more than 260 million metric tons of carbon dioxide into the atmosphere, equivalent to the emissions from 66 new coal-fired power plants per year. when the board of directors determines that doing so may produce a material positive impact on the environment. The Willow Project calls for construction of up to five drill pads with up to 50 wells on each pad, a road system, an airstrip, pipelines, a gravel mine and more. The Patagonia Purpose Trust s business in Europe, the Middle East and Africa gt % vP5pO *, 0000001559! Arctic National Wildlife Refuge oil and gas leasing Program of directors, and human resources repeal the establishment the. 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