Patagonia Founder Gives Away the Company

In a bold move that I’m not sure we’ve ever seen before, instead of going public or selling the company, Patagonia founder Yvon Chouinard announced that he is “giving away the company” to fight climate change. Essentially the family is pumping all of the stock into a unique combination of a trust and for-profit where all of the profits (after re-investing in the business) will go to saving planet Earth. Instead of going public, Yvon calls it “going purpose.”

“As of now, Earth is our only shareholder.”

The move is entirely consistent with the founder’s passion and vision for the company since day one. He’s an avid outdoors person who turned that “hobby” into good. Into a consistently “good” brand. One of the forerunners.

One of the brand’s more famous campaigns urged people to “not buy”. unless they were prepared to keep the merchandise for life.

I am not only inspired by this innovative move to funnel resources for good, but also of the brand’s ongoing and consistent commitment to do so, from its day one charter.

What’s your experience? JIM