Patagonia’s founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Patagonia is a private company based in Ventura, California, that sells outdoor apparel and equipment. Yvon Chouinard founded the company in 1973. Patagonia said in a press release on Wednesday that, effective immediately, Chouinard and his family will transfer their entire ownership stake into two newly created entities. Those entities will ensure that the company’s values will continue to be upheld — and that Patagonia’s profits are used to combat climate change.
This trust will create a permanent legal structure so that the company can never deviate from Chouinard’s vision: That a for-profit business can work for the planet. “Two years ago, the Chouinard family challenged a few of us to develop a new structure with two central goals,” said Patagonia CEO Ryan Gellert in the press release. “They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis.
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Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
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Patagonia's founder transfers ownership to help fight the climate crisisPatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
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Patagonia's founder transfers ownership into two entities to help fight the climate crisisPatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
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Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia founder Yvon Chouinard is transferring ownership of the company after nearly 50 years into 2 entities to help fight the climate crisis.
Consulte Mais informação »
Patagonia founder Yvon Chouinard gives away company to help fight climate changePatagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.
Consulte Mais informação »