Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. Introducing Patagonia Works, a new kind of holding company. 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. Patagonia Works ("Patagonia") is an outdoor apparel company with an almost 50-year history of environmental conservation and activism. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. Sign up for exclusive offers, original stories, activism awareness, events and more. Yes. 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. This elite creative team also includes Tin Shed Ventures and Patagonias repair, share and recycle business, Worn Wear. Biogeosciences 12, 19 (2020), Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. Investments of any size will be limited to like-minded, responsible businesses. Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet. 0000001931 00000 n 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. Why will each company under Patagonia Works beorganized as a B Corp? Caring for employees extends beyond basic health insurance, so we take a more holistic approach to coverage and support overall wellness to which every human has a right. Ambitions dont get much bigger than that. Save my name, email, and website in this browser for the next time I comment. Ive made no secret that I hold a fairly skeptical view of the business world. Patagonia is a Certified Benefit Corporation that has contributed more than $145 million to grassroots nonprofits working to protect people and the planet. 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. 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. 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). 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. 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. The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and . Subsidized, on-site high-quality child care. Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. 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 ourmission prepares us to help lead citizen activists and business people of conscious to urgently work to create a healthier planet for all life. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Please remove some items to proceed. Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. 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. Across America, smaller cities and less-populated states are offering cash and perks to lure remote workers away from big metropolitan areas. Flexible shipping options are available. The last line of Patagonias mission statement is use business to inspire and implement solutions to the environmental crisis. Weve always taken that seriously. VENTURA, Calif. (September 14, 2022) Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. Thank you for your efforts to deliver a holistic solution to this problem. 0000013972 00000 n You have exceeded the maximum number of line items for your cart (50). 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. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); 2008-2022. Will Patagonia Works wholly own any of the companies it invests in?Not necessarily. This is our purpose. 0000004050 00000 n 0000006513 00000 n 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. Message and data rates may apply. 0000001780 00000 n 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). 21, 2022). Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. He wanted to do things his own way and on his own terms. 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. Learn more about our environmental and social responsibility program. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. 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. Patagonia has 9 current employee profiles, including VP Environmental Initiatives and Special Media Projects Rick Ridgeway. Nonvoting stock carries economic value but not decision-making authority. Who is the CEO and President of Patagonia Works?Ryan Gellert is chief executive officer (CEO) of Patagonia Works and Patagonia, Inc. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. Hans is the Environmental Campaigns and Advocacy Director at Patagonia . Founded by Yvon Chouinard in 1973, Patagonia is an outdoor apparel company based in Ventura, California. Truth be told, there were no good options available. Each company may leverage the following shared corporateservices: environmental, legal, finance, technology, distribution, and human resources. It means giving parents the resources they need to work and raise children. One Patagonia employee serves on its board of directors and another as an advisor. Ryan has lived and worked in the United States, Asia and Europe. Another path was to take the company public. Patagonia's Chief Executive Officer is Ryan Gellert. h1 01K\Ax'MF[!!' (| endstream endobj 2431 0 obj <>/Metadata 172 0 R/Pages 163 0 R/StructTreeRoot 174 0 R/Type/Catalog/ViewerPreferences<>>> endobj 2432 0 obj <>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/StructParents 8/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 2433 0 obj <> endobj 2434 0 obj <> endobj 2435 0 obj <> endobj 2436 0 obj <> endobj 2437 0 obj <>stream The work ahead promises to be more important and satisfying than anything we have done so far, and we are beyond excited for what the future holds.. Despite the misguided opinions of this Court, were more determined than ever to save our home planet. Our team would welcome the opportunity for more dialogue. X/brDzV(Re;>}*R~:-}/'~[>;G"M6ms.+f79\HHQ/UQ(AdH-~]DEDHDv-vQrq\/zEr u!-K(fJEp}U1:t'+:s)DtJmf}WtVOo1' .5`0JQ|iTfLpDBRZEEvS That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. Its been nearly 50 years since we began our experiment in responsible business, and we are just getting started. Now is the time for Patagonia to take the next logical step: to reach out beyond the framework of the apparel and outdoor industries. 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. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Text HELP for help. 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. Ambitions dont get much bigger than that. But its also resilient. 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. We started with our products, using materials that caused less harm to the environment. 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). Where restrictions exist, travel, lodging and food are covered. Founded by Yvon Chouinard in 1973, Patagonia is an outdoor apparel company based in Ventura, California. This is what we can do. Will Patagonia as a company continue to donate 1% of sales for the planet? Rush and Upton, Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. Need it sooner? We needed to find a way to put more money into fighting the crisis while keeping the companys values intact. In 2018, we changed our official reason for being to amplify . H\n0~ Patagonia Works will also serve as an umbrella for new businesses the company invests in or develops in the future. . The leadership of the company does not change. CC: Brenda Mallory, Council on Environmental Quality Chair; Adrian Saenz, White House Office of Public Engagement; Gina McCarthy, White House National Climate Advisor; Ali Zaidi, Deputy White House National Climate Advisor. Gellert has overseen . Patagonias community which includes avid anglers, paddlers, and conservationists stands ready to support a strong plan in whatever way we can. Since 2014, Gellert has overseen Patagonia's business in Europe, the Middle East and Africa. 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 The Final Report must address the fact that dams contribute significantly to climate change through emissions and amplification of other climate impacts. 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. Sign up for exclusive offers, original stories, activism awareness, events and more. Ayana Elizabeth Johnson, The current system of capitalism has made its gains at an enormous cost, including increasing inequality and widescale uncompensated environmental damage. 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. Hear the latest economic, business and market news, as well as global, national, and local news. What is a B Corp (benefit corporation)? 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. Buy used, trade in and fix your gear through Worn Wear. Were in business to save our home planet. 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. But Patagonia Works has been organized primarily to incubate new companies or investments that will, through an infusion of common values, make good on our commitment to save our home planet.. 0000003003 00000 n 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. The Patagonia Purpose Trust owns 2% of the company and all of the voting stock. It would also be a failure for the planet. The estimated total pay for a Director at Patagonia is $260,402 per year. 0000010398 00000 n 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). 0000002888 00000 n What does this mean for Patagonia employees? Williams will continue to report to the CEO in this critical new role. 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. The Holdfast Collective owns 98% of the company and all of the nonvoting stock. 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.. BY Sophie Mellor. Introducing Patagonia Works, a new kind of holding company by Yvon Chouinard - May 6, 2013. . Three examples: Every year for 30 years, Patagonia has donated one percent of its sales to grassroots environmental organizations. Text HELP for help. Sincerely, Michael HiattSenior Attorney Earthjustice, 1 See, e.g., Bridget Deemer et al., Greenhouse Gas Emissions from Reservoir Water Surfaces: A New Global Synthesis, 66 BioSci. 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. That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. 0000003088 00000 n 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. 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. oIRcOk#v'lXvCuJp< x,Z.E>BZ,M@rcl./Na)&l 9m7e^T+%8m40**IjibSe >x2z)g$M^( KsT\)GHSqxlpJ :N;]H:n` ^ endstream endobj 2439 0 obj <>stream Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. %PDF-1.4 % 21, 2022), Twitter Instagram Facebook Google+ | Patagonia.com, Environmental justice, conservation and business groups, Letter to President Biden Regarding Willow Project, NEXT Energy Technologies Installs Energy-Generating Windows on Outdoor Retailer Patagonias Headquarters, Patagonia North America to close for last week of year, After 33 Years, Argentina Declares Historic Win for People and Planet, Funding Will Help Indigenous Communities Relocate to More Climate-Resilient Locations, Patagonia Opposes Pit Gravel Mine and Asphalt Plant Near the Madison River, Patagonia to young voters: you scare them, PATAGONIAS NEXT CHAPTER: EARTH IS NOW OUR ONLY SHAREHOLDER, Patagonia's Official Comment on Willow Project, Statement from Patagonia CEO Ryan Gellert on Utah Officials' Bears Ears, Grand Staircase-Escalante Lawsuit, Legal Agreements Block Drilling, Fracking Across 1 Million Acres in Central California, Letter in Support of Breaching Lower Snake River Dams, Petition-for-rulemaking-to-add-dams-and-reservoirs-as-a-source-category-under-the-Greenhouse-Gas-Reporting-Program.pdf (tellthedamtruth.com), Letter to Sen. Schumer Regarding Budget Reconciliation, Statement from Patagonia CEO Ryan Gellert on U.S. Supreme Court Decision West Virginia v. EPA, Letter to Sec. In order to truly understand and compare the climate-related costs and benefits of dam removal vs. continued dam operation, we need to quantify or at least estimate these climate impacts, over 50 years, including: o Annual and projected carbon equivalent emissions from dam and reservoir operations. Dam and reservoir operations also emit GHGs from several other emission points, including hydropower turbines, spillways, and downstream discharges. 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 strongly with its mission and sport communities. 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. The estimated base pay is $153,865 per year. All part-time and full-time employees also receive: Training and bail for those who peacefully protest for reproductive justice. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. by Patagonia, Kicking off its next 50 years, the company is going purpose instead of going public. Weve pledged 1% of sales to the preservation and restoration of the natural environment. In 2012 we became one of Californias first B Corps (benefit corporations), which means that the values that helped make our company successful are now etched into our legal charter. Patagonias new owners are the Holdfast Collective and the Patagonia Purpose Trust. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the 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. }gt%vP5pO*,K. Our senior strategists, Erica Olsen and Kim Perkins, facilitated a series of eight, 1-day strategy sessions . 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. And that bestows on our family a serious responsibility. Wasting less water and creating less trash, ( new Date ( ) ).getTime ( ).getTime... Be limited to like-minded, responsible businesses as dividends to protect the planet where restrictions exist, travel lodging. 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