Patagonia’s bold move to donate the entire company to fight climate change only works if it stays competitive in business, CEO says

Patagonia founder Yvon Chouinard, his spouse and two adult children announced that they will be giving away the ownership of their company which is worth about $3 billion. The company’s privately held stock will be now be owned by a climate-focused trust and group of nonprofit organizations. All profits that are not reinvested into the business will be used to fight climate change. CEO Ryan Gellert said the company will not become less competitive or aggressive in meeting its business objectives.

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