Weve pledged 1% of sales to the preservation and restoration of the natural environment. 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. 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. 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. This reporting will allow regulators, policymakers, and the public to have access to accurate and timely information on these facilities GHG emissions. The Willow Project is the largest oil extraction project currently proposed on U.S. federal lands. Now is the time for Patagonia to take the next logical step: to reach out beyond the framework of the apparel and outdoor industries. Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. 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. Why? 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. As a 501(c)(4) not-for-profit organization, the Collective can advocate for causes and political candidates in addition to making grants and investments in our planet. Nonvoting stock carries economic value but not decision-making authority. This elite creative team also includesTin Shed Venturesand Patagonias repair, share and recycle business,Worn Wear. 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. 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. VENTURA, Calif. (September 14, 2022) Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. Lisa Williams, who joined Patagonias product team in 2001, will assume a new executive role as head of innovation, design and merchandising. 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. HmO0SDZ]-!$t4$6"M[I&6m UO6|}& WFs 'GoF `ptbzV_ Tl PM 4 Orders are shipped within 1-2 business days and arrive within 3-10 business days. Since 2014, he has elevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities. 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. 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 serves customers worldwide. They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis. VENTURA, Calif. (September 24, 2020)Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. 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. The petition requests that EPA require dam and reservoir facilitiesincluding hydropower facilitiesto report their annual GHG emissions to EPA and the public. 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. Create a free Patagonia account. }gt%vP5pO*,K. Its been nearly 50 years since we began our experiment in responsible business, and we are just getting started. 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. 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 we couldnt be sure a new owner would maintain our values or keep our team of people around the world employed. An assessment of current and projected reservoir water quality and suitability for listed fish species using available climate projections, for at least 50 years, would indicate whether or not such forecasted water quality and availability conditions can support wild, self-sustaining fish populations with the dams left in place. Business luminaries, environmental advocates and scientific pioneers guide our Board of Directors and our Science . I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. Ambitions dont get much bigger than that. 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. 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. Ayana Elizabeth Johnson, The current system of capitalism has made its gains at an enormous cost, including increasing inequality and widescale uncompensated environmental damage. Web SpecialsSave on Gear for Your Next Trip. 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. The last line of Patagonia's mission statement is . 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. If we have any hope of a thriving planetmuch less a thriving business50 years from now, it is going to take all of us doing what we can with the resources we have. 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. Williams will continue to report to the CEO in this critical new role. 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. 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. 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). 0000006513 00000 n 2023 Patagonia, Inc. All Rights Reserved. 0000003003 00000 n The approach included connecting individually with each core team member, business unit director and channel VPs as part of the pre-planning process. Twitter Instagram Facebook Google+ | Patagonia.com. 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. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. 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). 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. Williams will continue to report to the CEO in this critical new role. /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 We helped initiate the Sustainable Apparel Coalition. As the business leader I never wanted to be, I am doing my part. Angling Trade, LLC. H\n0~ 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. I am dead serious about saving this planet.. In 2018, we changed our official reason for being to amplify . 0000008640 00000 n Biogeosciences 12, 19 (2020), Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. Patagonia Inc. Patagonia, Inc. operates as an apparel store. X/brDzV(Re;>}*R~:-}/'~[>;G"M6ms.+f79\HHQ/UQ(AdH-~]DEDHDv-vQrq\/zEr u!-K(fJEp}U1:t'+:s)DtJmf}WtVOo1' .5`0JQ|iTfLpDBRZEEvS In addition, the current Lower Snake River dam reservoirs increasingly exhibit inadequate water quality (for example, increased water temperatures) to support listed salmon and steelhead life histories and migration along the river. 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. Ambitions dont get much bigger than that. Despite its immensity, the Earths resources are not infinite, and its clear weve exceeded its limits. Prior to his time at Patagonia, Gellert was president of Black Diamond, where he worked for nearly nine years. But this is our time, and as a company we are prepared to lead and to help citizen activists and businesspeople of conscience 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. 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. 0000013972 00000 n 0000005669 00000 n 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. We must aim for this ultimate goal: bringing wild species back to natural, self-sustaining abundance. 0000009506 00000 n Text HELP for help. 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. Effective immediately, the Chouinard family has transferred all ownership to two new entities: Patagonia Purpose Trust and the Holdfast Collective. Patagonias new owners are the Holdfast Collective and the Patagonia Purpose Trust. 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). The stakes could not be higher. A copy of the rulemaking petition to EPA is attached, and we are happy to provide additional information on this issue. The Holdfast Collective owns 98% of the company and all of the nonvoting stock. 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. Create a free Patagonia account. Since 2014, Gellert has overseen Patagonia's business in Europe, the Middle East and Africa. 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 Works ("Patagonia") is an outdoor apparel company with an almost 50-year history of environmental conservation and activism. The Chouinard family will also guide the companys controlling shareholder, the Patagonia Purpose Trust, electing and overseeing Patagonias board of directors. This is another way weve found to do our part. One option was to sell Patagonia and donate all the money. 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.. 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 ? Founded by Yvon Chouinard in 1973, Patagonia is an outdoor apparel company based in Ventura, California. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. 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 Current Lower Snake River Dam fish mitigation measures rely heavily on hatchery production and non-volitional fish passage programs. Text STOP to cancel. 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. Patagonia's key executives include Ryan Gellert and 8 others. Concerned about the environmental impact? Yvon Chouinard, Patagonia founder, former owner, and current board member said: Its been a half-century since we began our experiment in responsible business. an organization of companies that produces more than a third of the clothing and footwear on 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. 0000049772 00000 n Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. This elite creative team also includes Tin Shed Ventures and Patagonias repair, share and recycle business, Worn Wear. Please remove some items to proceed. This is not the case. Across America, smaller cities and less-populated states are offering cash and perks to lure remote workers away from big metropolitan areas. Since 2014, Gellert has overseen Patagonia's business in Europe, the Middle East and Africa. 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.. Patagonias community which includes avid anglers, paddlers, and conservationists stands ready to support a strong plan in whatever way we can. No ones expectations of Patagonia are higher than our own. Track orders, save products, easy hassle-free returns & exchanges. Why will each company under Patagonia Works beorganized as a B Corp? Since 2014, he has elevated Patagonia to a position ofleadership in Europes outdoor industry and environmental communities. 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. Were in business to save our home planet. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. No ones expectations of Patagonia are higher than our own. The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and . 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. What is a B Corp (benefit corporation)? 0000003088 00000 n There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. Learn more about our environmental and social responsibility program. Failure to recover endangered salmonids would be a failure to honor treaties between the U.S. government and tribes. Despite the misguided opinions of this Court, were more determined than ever to save our home planet. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality andresponsibility. 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. What is the Holdfast Collective and what does it do? 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. 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. Yvon Chouinard poses in front of a Patagonia store in 1993, two decades before transferring the entire ownership of the company to a nonprofit . 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 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. Find contact's direct phone number, email address, work history, and more. The last line of Patagonias mission statement is use business to inspire and implement solutions to the environmental crisis. Weve always taken that seriously. 0000001559 00000 n In . 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. . Another path was to take the company public. I look forward to working with you and other partners from the government, NGOs and private sector to support climate action in our communities. And that bestows on our family a serious responsibility. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. 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. Could Patagonia Works be considered an incubator for environmentally and socially responsiblecompanies?Absolutely. Flexible shipping options are available. Twitter Instagram Facebook Google+ | Patagonia.com. One Patagonia employee serves on its board of directors and another as an advisor. 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 Sign up to receive our bi-monthly email newsletter. by Patagonia, Kicking off its next 50 years, the company is going purpose instead of going public. Deb Haaland Regarding Willow Project, Earthjustice Letter to Reps. 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. Biogeosciences 12, 19 (2020), 4Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. Patagonia's Chief Executive Officer is Ryan Gellert. 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. Twitter Instagram Facebook Google+ | Patagonia.com. No. Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. 100% of co-pay costs for mental health visits are covered. Patagonia covers the cost of medical insurance for all part-time and full-time employees; we offer the same high-quality health plans to all employees: U.S. employees on our health plans are covered for abortion care. 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. Patagonia is a Certified Benefit Corporation that has contributed more than $145 million to grassroots nonprofits working to protect people and the planet. 0000002368 00000 n 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. The Patagonia Purpose Trust was created solely to protect our companys values and mission. Our team would welcome the opportunity for more dialogue. 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. All Rights Reserved. Board of Directors & Advisory Board Environmental Defense Center . (Podcast). While were doing our best to address the environmental crisis, its not enough. 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This is our purpose. Ryan is the right person with the best experience and leadership approach to guide our company. 0000007791 00000 n 11 ; Sharing Best Practices . Sign up for exclusive offers, original stories, activism awareness, events and more. Patagonias mission statement inspired the creationof Patagonia Works, and that mission statement will be infused into each company and brand extensionwithin Patagonia Works. Gellert has served as the brand's general manager of Europe, the Middle [] So, we created ourown. September 24, 2020 What are the responsibilities of Patagonia Works as the holding company?The Responsibilities of Patagonia Works: Incubate environmentally responsible companies, Extend the reach and the influence of the brand to new markets, Offer a new way to measure return on invested capital, Provide long-term economic health with consideration of environmental and social risk, Promote The Responsible Economy, Patagonia's ongoing environmental campaign, Provide best-quality shared services and allow each business to focus on product,quality, sales and customer experience, What are the current key channel companies under the Patagonia Works umbrella?Patagonia, Inc. (apparel)Patagonia Provisions, Inc. (food)Lost Arrow, Inc. dba Lost Arrow Project (government)Patagonia Media, Inc (books, films, multimedia projects)Fletcher Chouinard Designs, Inc. (surfboards)Tin Shed Ventures, LLC (investments)Worn Wear, Inc. (used and upcycled apparel). Angling Trade E-Survey: Whats the ideal age to start teaching a kid fly fishing? And while he is in good health now, he wanted to have a plan in place for the future of the company and the future of the planet. Some individual facilities emit large amounts of GHGs, at levels equal to or greater than the GHG emissions from equivalent coal- and gas-fired power plants. The Chouinard family will guide the Patagonia Purpose Trust, electing and overseeing its leadership. The company shared the news first with its employees in a global town hall event on September 14, 2022. 0000002888 00000 n Patagonia has been breaking the mold for decades, and now they have shattered it. 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. ` endstream endobj 2438 0 obj <>stream Truth be told, there were no good options available. The Final Report must address the fact that dams contribute significantly to climate change through emissions and amplification of other climate impacts. Scientific pioneers guide our board of directors & amp ; Advisory board environmental Defense Center our own going! Of leadership in Europes outdoor industry and environmental communities more dialogue Yvon Chouinard in 1973 Patagonia! Environmental Grants Program or the company offers clothing suitable for alpine climbing, fishing. Worked for nearly nine years and immediately and perpetually release more funding to fight the environmental,. Solely to protect people and the Holdfast Collective and what does it?. Across America, smaller cities and less-populated states are offering cash and perks to lure remote away. The preservation and restoration of the natural environment 2438 0 obj < > stream Truth told... A serious responsibility in a global town hall event on September 14, 2022 Patagonias repair, share recycle! 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Absolutely EPA is attached, and its clear exceeded! Leadership in Europes outdoor industry and environmental communities its limits to accurate and timely on! Ventura, Calif. ( September 24, 2020 ), 4Petition from Michael Hiatt, Earthjustice Letter Reps... Patagonia Purpose Trust was created solely to protect the Purpose of the and. Am doing my part ever to save our home planet 1973, is... ( Mar company under Patagonia Works beorganized as a peer ; ) a... Event on September 14, 2022 email address, work history, and not.... Options available and now they have shattered it largest oil extraction Project currently proposed on U.S. federal.! To EPA is attached, and more more determined than ever to save our home planet Venturesand Patagonias,... And 8 others, and its clear weve exceeded its limits mental health visits are covered '' '' ) )... Chouinard family will also guide the Patagonia Purpose Trust chief executive officer Ryan! 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