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Patagonia's founder transfers ownership into two entities to help fight the climate crisis
by Kate Trafecante, CNN
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18 September 2022
On 18 September 2022 CNN reported:
Patagonia's founder is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. Patagonia is a private company based in Ventura, California, that sells outdoor apparel and equipment. Yvon Chouinard founded the company in 1973. Patagonia said in a press release on Wednesday [14 September] that, effective immediately, Chouinard and his family will transfer their entire ownership stake into two newly created entities. Those entities will ensure that the company's values will continue to be upheld -- and that Patagonia's profits are used to combat climate change.
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