The founder of Patagonia is giving away his company to 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.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
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.
Les mer »
Patagonia’s New Plan, Owned by the PlanetThe family of founder Yvon Chouinard transferred ownership of the firm to two new entities set up to use its $100 million in annual profits to fight climate change.
Les mer »
Patagonia's Owners Just Gave It Away -- To Planet EarthPatagonia owner Yvon Chouinard announced Wednesday the family was transferring ownership to a trust and non-profit aimed at combatting climate change.
Les mer »
Patagonia founder gives company away, ensuring profits go to fight climate changeYvon Chouinard, who became famous for alpine climbs in Yosemite and then as a manufacturer of outdoor gear, said in a note: “We’re making Earth our only shareholder.”
Les mer »
Patagonia Founder Just Donated the Entire Company, Worth $3 Billion, to Fight Climate ChangeMoving forward, Patagonia’s profits that are not re-invested into the business will be donated to a group of nonprofit organizations fighting climate change.
Les mer »