by Daniel Goleman, originally published by Korn Ferry in KF Insights
Breaking news on the purpose front this month: Patagonia’s founder, Yvon Chouinard, bestowed ownership of the company to the Patagonia Purpose Trust and the Holdfast Collective, a nonprofit dedicated to defending nature. Valued at roughly $3 billion, the 50-year-old outdoor apparel company is now in a trust that will ensure profits go towards fighting the climate crisis.
“Earth is now our only shareholder,” reads the headline on Patagonia’s website, where Chouinard shares more about his motivation for the restructure.
