“Earth is now our only shareholder,” (former) owner Yvon Chouinard announced.
announcing the news, he said, quite simply, that he “does not respect the stock market at all”), they decided that there really were no good options.
Thus, a plan to transfer ownership to a trust and a non-profit, called the Patagonia Purpose Trust and the Holdfast Collective, respectively, was born. It allows the company to remain private, while moving ownership over completely to the two new entities. The trust will work to make sure the company continues to live up to its mission and standards, while the non-profit is dedicated to fighting against our climate crisis and preserving nature.
It’s a huge move, but not really a surprising one. Patagonia and Chouinard have always made its stance known, historically donating one percent of its sales each year and introducing initiatives and advertisements that push forward their agenda. According to theJust iconic behavior all around. Here’s hoping more businesses take a page out of Patagonia’s playbook someday.
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