But we couldnt be sure a new owner would maintain our values or keep our team of people around the world employed. 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. This is what we can do. Who is the CEO and President of Patagonia Works?Ryan Gellert is chief executive officer (CEO) of Patagonia Works and Patagonia, Inc. 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. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality andresponsibility. Flexible shipping options are available. Another path was to take the company public. 2023 Patagonia, Inc. All Rights Reserved. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. If we want to protect nature and support communities, businesses cant continue to adhere to the prevailing economic model. Biogeosciences 12, 19 (2020), 4Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. 208 Criminal Trespass Amendments. Founded by Yvon Chouinard in 1973, Patagonia Works (Patagonia) is a certified B Corporation based in Ventura, California. Unfortunately, several participants at the hearing incorrectly characterized hydropower as a clean, carbon free resource. In . Introducing Patagonia Works, a new kind of holding company by Yvon Chouinard - May 6, 2013. . X/brDzV(Re;>}*R~:-}/'~[>;G"M6ms.+f79\HHQ/UQ(AdH-~]DEDHDv-vQrq\/zEr u!-K(fJEp}U1:t'+:s)DtJmf}WtVOo1' .5`0JQ|iTfLpDBRZEEvS 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. ` endstream endobj 2438 0 obj <>stream I dont like to think of myself as a businessman. The funds name is a nod to the fact that $20 million is the starting amount with the ability to grow and, moreimportantly, with the ability to "change" the way business is done. 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. What is Patagonia Works?Patagonia Works succeeds Lost Arrow Corporation as the holding company for Patagonia, Inc. (apparel), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), and future investments and joint ventures. 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. Our senior strategists, Erica Olsen and Kim Perkins, facilitated a series of eight, 1-day strategy sessions . 2023 Patagonia, Inc. All Rights Reserved. They will also guide the philanthropic work performed by the Holdfast Collective. ;"6r57dtf-Xa.9ZXyWQ%s;3eZ:u5>YLV >zO=5Qmv+d Nzym0KTCGWp:05@@6LhhdYTfNO]vGc1Y/XWqWU3Aa+::@4(M X &700 If you are using a screen reader and having difficulty please call us at 1-800-638-6464. 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. A growing body of scientific studies over the past two decades have established that dams and reservoirs produce and emit substantial amounts of carbon dioxide, methane, and nitrous oxide.1 These greenhouse gas (GHG) emissions include reservoir surface emissions, which occur when dams trap organic material and leached synthetic fertilizers that decompose beneath a reservoirs water. 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.. trailer <<01B69396AD8144B882DB6E07C9094736>]/Prev 218095/XRefStm 1559>> startxref 0 %%EOF 2451 0 obj <>stream 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. Please remove some items to proceed. 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 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. 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 providing your email address, you agree to our Privacy Policy and Terms of Service. Were making Earth our only shareholder. 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. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. 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. Why will each company under Patagonia Works beorganized as a B Corp? Ryan Gellert as CEO and the leadership team, together with all of Patagonias employees, will continue to run the business under the direction of the board of directors. Create a free Patagonia account. Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the business. Angling Trade E-Survey: Whats the ideal age to start teaching a kid fly fishing? 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. 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. September 24, 2020 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. Despite the misguided opinions of this Court, were more determined than ever to save our home planet. Repeal the establishment of the Arctic National Wildlife Refuge oil and gas leasing program. Ryan is the right person with the best experience and leadership approach to guide our company. 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. Note: This statement was originally posted on LinkedIn. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. Investments of any size will be limited to like-minded, responsible businesses. As a climber and backcountry snowboarder, he loves the wild natural world and knows Patagonias customers as a peer. Her work focuses on fostering collaborative partnerships with a number of national nonprofits and decision-makers at the federal level to ensure access to and infrastructure for inspiring outdoor recreation opportunities. We can save our planet if we commit to it. Additional Quotes from Patagonia Board of Directors . I started as a craftsman, making climbing gear for my friends and myself, then got into apparel. 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. 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. Patagonia's key executives include Ryan Gellert and 8 others. Twitter Instagram Facebook Google+ | Patagonia.com. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. And its true to form for my life-long friend and fellow environmentalist, Yvon Chouinard. Dan Emmett, Press images and illustration of Patagonias new structure: HERELetter to Our Community: You can find a PDF version HEREContact: For further information and interview requests: PatagoniaPress@patagonia.com. an organization of companies that produces more than a third of the clothing and footwear on the planet. September 14, 2022 Whats changed now is that the company has additional stewardship from the Patagonia Purpose Trust. Biogeosciences 12, 19 (2020), Petition from Michael Hiatt, Earthjustice, to Michael Regan, Admr, EPA (Mar. Explore our guide to Patagonia. 0000004050 00000 n The estimated base pay is $153,865 per year. Message and data rates may apply. %PDF-1.4 % And that bestows on our family a serious responsibility. 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. 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. 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. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. More recently, in 2018, we changed the companys purpose to: Were in business to save our home planet. This is our purpose. Caring for employees is the responsibility of business. Rush and Upton, Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. 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.. Williams will continue to report to the CEO in this critical new role. 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. Additionally, all companieswill have direct sales as a component. Save my name, email, and website in this browser for the next time I comment. Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups?Absolutely. Text HELP for help. VENTURA, Calif. (September 24, 2020)Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. 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 Patagonia Purpose Trust owns 2% of the company and all of the voting stock. Our team would welcome the opportunity for more dialogue. What a disaster that would have been. 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. That said, Patagonia, the company my wife and I founded four decades ago, has grown up to by global standards a medium-size business. It will make the company more competitive and its employees around the world will forever be empowered by purpose. Kristine McDivitt Tompkins, Every time you read a new scientific report, it's clear the climate crisis is happening faster than we thought and it's worse than we thought. The world is literally on fire. 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. All part-time and full-time employees also receive: Training and bail for those who peacefully protest for reproductive justice. And that bestows on our family a serious responsibility. HmO0SDZ]-!$t4$6"M[I&6m UO6|}& WFs 'GoF `ptbzV_ Tl PM 4 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. While were doing our best to address the environmental crisis, its not enough. 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. What is the Holdfast Collective and what does it do? Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. 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. Ambitions dont get much bigger than that. Its unique ownership structure reflects that Earth is its only shareholder: Profits not reinvested back into the business are paid as dividends to protect the planet. Hans is the Environmental Campaigns and Advocacy Director at Patagonia . 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. 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. 0000010398 00000 n 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. Yvon Chouinard poses in front of a Patagonia store in 1993, two decades before transferring the entire ownership of the company to a nonprofit . Buy used, trade in and fix your gear through Worn Wear. Dont worry, we'll only contact you about activism here. Continuing to disregard this issue would ignore an important factor regarding future hydropower decisions and further exacerbate the climate crisis. 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. BY Sophie Mellor. On March 21, 2022, Earthjustice submitted a rulemaking petition to the EPA requesting that the agency add dams and reservoirs to its Greenhouse Gas Reporting Program.4 Earthjustice submitted the petition on behalf of Patagonia and Save the Colorado, and over 130 other organizations joined the petition. Neither of these programs lead to self-sustaining ESA recovery goals and metrics. Founded by Yvon Chouinard in 1973, Patagonia is an outdoor apparel company based in Ventura, California. Track orders, save products, easy hassle-free returns & exchanges. 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 this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. Some Patagonia Works investments could be smaller seed investments to fledgling, responsiblecompanies in need of capital. Patagonia will remain a B Corp and continue to give one percent of sales each year to grassroots activists. 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. 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. Will Patagonia Works wholly own any of the companies it invests in?Not necessarily. Learn more about our environmental and social responsibility program. Patagonia will continue to donate 1% of sales each year to grassroots environmental nonprofits. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. The company is owned by Chouinard and Tompkins, who are the co-founders. Everything we make has an impact on people and the planet. 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). This commitment is part of our business charter, which means it now cant be changed without the approval of the Patagonia Purpose Trust. . No. OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. Dam and reservoir operations also emit GHGs from several other emission points, including hydropower turbines, spillways, and downstream discharges. 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