Tag: Beth

Appointment Follows Planned Succession Process

SEATTLE, Jan. 22, 2025 /PRNewswire/ — REI Co-op president & CEO, Eric Artz, today announced that he will retire in March as CEO, marking a new chapter in the co-op’s 87-year history. Mary Beth Laughton, a former REI Board Director and seasoned retail leader, will join REI as president on February 3, 2025, before assuming full CEO responsibilities on March 31. 

Laughton has held leadership roles at Nike, Athleta, and Sephora. Her experience and personal passion balance strategic vision for the future of retail, innovation and operational rigor, love for the outdoors, and appreciation for the co-op’s unique culture. She has also held board roles with Impossible Foods and Instacart. During the planned handover period, Mary Beth will be out on the road and in stores and distribution centers, building connections with employees, partners and community members.

“Eric has led and stabilized REI through some of the most challenging years the retail sector and our co-op ever faced. REI is in a strong position today because he always kept our purpose, values, and people as his north star,” said Chris Carr, Chair of the REI Board of Directors. “Mary Beth has the ideal experience to build on this foundation and to lead REI forward into our next chapter. The world needs a strong REI, and we are confident Mary Beth will hit the ground running.” 

“Serving you and this enduring organization has been the honor of my professional life,” said Artz in a letter to employees this morning. “Being outside means something different for everyone and our job is not to tell people what that looks like. It is to show one another and to welcome others, always making time outside more accessible to more people in more ways. That is worth fighting for.” 

“No other company balances purpose and performance quite like REI, and we must ensure it thrives for generations to come,” said Laughton. “That is a big responsibility – one I embrace with utmost respect for our millions of members and the thousands of employees whose passion for life outside and deep expertise set the co-op apart. I know that we will go further together and cannot wait to join you and build our future.” 

As REI moves through this transition, the Board and executive leadership team remain focused on ensuring stability for its employees, members, and partners while building on the growth the co-op saw at the end of 2024. REI expects to meet its 2024 goals of break-even operating profit (Pre-Dividend Operating Income) and near break-even Free Cash Flow. This is a significant improvement versus 2023 for both metrics. 

About the REI Co-op
REI is a specialty outdoor retailer, headquartered near Seattle. The nation’s largest consumer co-op, REI is a growing community of 24 million members who expect and love the best quality gear and outstanding customer service. In addition to the co-op’s many stores across the country, outdoor enthusiasts can shop at REI.com, REI Outlet or the REI shopping app. Everyone is welcome to shop REI, but members who join the co-op enjoy a range of benefits. REI is a purpose-driven and values-led company dedicated to enabling life outside for all.

SOURCE REI Co-op