0000002888 00000 n September 14, 2022 Rush and Upton, Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. HmO0SDZ]-!$t4$6"M[I&6m UO6|}& WFs 'GoF `ptbzV_ Tl PM 4 Another path was to take the company public. Orders are shipped within 1-2 business days and arrive within 3-10 business days. 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 He wanted to do things his own way and on his own terms. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. 0000013972 00000 n VENTURA, Calif. (September 14, 2022) Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. Create a free Patagonia account. The estimated base pay is $153,865 per year. While were doing our best to address the environmental crisis, its not enough. 0000003522 00000 n 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. 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. 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. The leadership of the company does not change. I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. Ryan Gellert, CEO of Patagonia and Patagonia board member said: 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. Buy used, trade in and fix your gear through Worn Wear. Need it sooner? Executive headshots can be downloadedHERE. Investments of any size will be limited to like-minded, responsible businesses. 0000001780 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. Were in business to save our home planet. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. 0000000736 00000 n It would also be a failure for the planet. 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 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. Current Lower Snake River Dam fish mitigation measures rely heavily on hatchery production and non-volitional fish passage programs. OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. Message and data rates may apply. 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. Nonvoting stock carries economic value but not decision-making authority. Please remove some items to proceed. Williams will continue to report to the CEO in this critical new role. Where restrictions exist, travel, lodging and food are covered. 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. Patagonia Works ("Patagonia") is an outdoor apparel company with an almost 50-year history of environmental conservation and activism. 2023 Patagonia, Inc. All Rights Reserved. Concerned about the environmental impact? Ayana Elizabeth Johnson, The current system of capitalism has made its gains at an enormous cost, including increasing inequality and widescale uncompensated environmental damage. The funding will come from Patagonia: Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis. Child-care support for parents on work trips. 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.. 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. trailer <<01B69396AD8144B882DB6E07C9094736>]/Prev 218095/XRefStm 1559>> startxref 0 %%EOF 2451 0 obj <>stream Will Patagonia Works wholly own any of the companies it invests in?Not necessarily. A copy of the rulemaking petition to EPA is attached, and we are happy to provide additional information on this issue. 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. 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. Were making Earth our only shareholder. hb```b`` a`e````@ G d`5,,;V1cec`gc)4Ei[awY*YzX21Uu5?V=lO2f(cC"[@s*ECB-l[@NO.*`2U84fv&Gv:m3cSK[Tb.P8"")Qr)\vYsrGPbGMx ? All Rights Reserved. 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. The Chouinard family will guide the Patagonia Purpose Trust, electing and overseeing its leadership. 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. The Patagonia Purpose Trust owns 2% of the company and all of the voting stock. Despite the misguided opinions of this Court, were more determined than ever to save our home planet. They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis. 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. As the business leader I never wanted to be, I am doing my part. Ryan has lived and worked in the United States, Asia and Europe. Despite its immensity, the Earths resources are not infinite, and its clear weve exceeded its limits. This is what we can do. The last line of Patagonia's mission statement is . September 15, 2022, 5:30 AM PDT. 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. 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. /E}HMZ)&pRCyDi;8,:n}>t {FUv~S;,.]?mZg^eC0zweubvm!W~.}Anyn;UkfeCU8EjT]>^"k\BMUpI.lXcPcXcPcXcR!%["0[r/,KEEGGGGGGEE___`]"c^nn+,"#4p/Duw !t,c|i4 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. Flexible shipping options are available. The executive who had overseen the organization's business in Europe, the Middle East and Africa since 2014 now heads the. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the business. But while we and others do take meaningful steps to mitigate the impact we have on the planet, Patagonias new ownership structure introduces a new model that goes far beyond anything that exists today. 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. Board of Directors & Advisory Board Environmental Defense Center . Angling Trade E-Survey: Whats the ideal age to start teaching a kid fly fishing? Sign up for exclusive offers, original stories, activism awareness, events and more. For example, a scientific study shows that Hoover Dam and Lake Mead emit approximately 12.3 million metric tons of carbon dioxide equivalent (CO2e) annually, while Kentucky Lake annually emits over 1.8 million metrics tons of CO2e.2 Moreover, the collective GHG emissions of dams and reservoirs are significant. an organization of companies that produces more than a third of the clothing and footwear on the planet. 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 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. Companies that create the next model of capitalism through deep commitment to purpose will attract more investment, better employees, and deeper customer loyalty. 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. 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. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Patagonia will remain a B Corp and continue to give one percent of sales each year to grassroots activists. Were in business to save our home planet. 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. Caring for employees is the responsibility of business. Flexible shipping options are available. The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and yoga, as well as other outdoor activities. 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. Now I want to know, which companies will be next to step up? Dr. 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. And, I am certain we will also have some fun along the way.. Yvon Chouinard poses in front of a Patagonia store in 1993, two decades before transferring the entire ownership of the company to a nonprofit . Some Patagonia Works investments could be smaller seed investments to fledgling, responsiblecompanies in need of capital. No. Notably, a 2020 scientific study co-authored by a U.S. Environmental Protection Agency (EPA) researcher estimated that reservoirs in Ohio are the states fourth largest anthropogenic source of methane emissions.3. Williams will continue to report to the CEO in this critical new role. Reduce inequity by targeting climate and clean energy investments in disadvantaged and frontline communities. 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. 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. Our Board of Directors Carolyn Shafer, President, has been part of the PARA board since 2012. 11 ; Sharing Best Practices . There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. 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). Could Patagonia Works be considered an incubator for environmentally and socially responsiblecompanies?Absolutely. Its unique ownership structure reflects that Earth is its only . What is a B Corp (benefit corporation)? 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. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. No ones expectations of Patagonia are higher than our own. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. The Willow Project is the largest oil extraction project currently proposed on U.S. federal lands. In addition to this role, Dr. Soley is Chairman and CEO of the Object Management Group. 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. September 24, 2020 Ryan is the right person with the best experience and leadership approach to guide our company. The estimated additional pay is $106,537 per year. We can save our planet if we commit to it. Our participation helps us to stay at the forefront in developing environmentally conscious textiles, and enables us to share our experience with others from our many years using organic cotton and recycled fabrics. If we have any hope of a thriving planetmuch less a businessit is going to take all of us doing what we can with the resources we have. Introducing Patagonia Works, a new kind of holding company. Twitter Instagram Facebook Google+ | Patagonia.com. The work ahead promises to be more important and satisfying than anything we have done so far, and we are beyond excited for what the future holds.. Our senior strategists, Erica Olsen and Kim Perkins, facilitated a series of eight, 1-day strategy sessions . Since 2014, he has elevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities. I started as a craftsman, making climbing gear for my friends and myself, then got into apparel. Start-up or angel investments may be made in companies outside Patagonia Works that are not B Corps,members of 1% for the Planet or subscribers to a social and environmental performance index. oIRcOk#v'lXvCuJp< x,Z.E>BZ,M@rcl./Na)&l 9m7e^T+%8m40**IjibSe >x2z)g$M^( KsT\)GHSqxlpJ :N;]H:n` ^ endstream endobj 2439 0 obj <>stream Its been nearly 50 years since we began our experiment in responsible business, and we are just getting started. Text HELP for help. 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. 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. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. You have exceeded the maximum number of line items for your cart (50). 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. Gellert has served as the brand's general manager of Europe, the Middle [] But we couldnt be sure a new owner would maintain our values or keep our team of people around the world employed. 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. The company is owned by Chouinard and Tompkins, who are the co-founders. The Chouinard family will also guide the companys controlling shareholder, the Patagonia Purpose Trust, electing and overseeing Patagonias board of directors. The Holdfast Collective (Collective for short) will use every dollar received to fight the environmental crisis, protect nature and biodiversity, and support thriving communities, as quickly as possible. 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. 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. The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and . Employees are at the core of Patagonias success and this new ownership structure is an irrevocable commitment to protect the purpose and values that attracted all of us to the company in the first place. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. I believe this plan that he and his family helped create is tectonic. This commitment is part of our business charter, which means it now cant be changed without the approval of the Patagonia Purpose Trust. 0000004050 00000 n 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. But its also resilient. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. 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. Yes. 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. 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 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). 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.This is what we can do. 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. That means offering employees the dignity of access to reproductive health care. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); 2008-2022. 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. 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. We ask that you hold a comment period of 120 days to allow for that input and to ensure permitting decisions are made in accordance with the Administrations climate and conservation goals. 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. In 2000, Kristine Tompkins founded Conservacion Patagonica. h1 01K\Ax'MF[!!' 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