Eric Arts, President and CEO of Rei Co-OP, announced on January 23 that he will retire on March 23, and the Board of Directors of Outdoor Tailor’s Retail Store co-ops, other active-style brands. Former director and executive were appointed.
According to the release, Mary Beth Rothon will join the REI as the president on February 3 and will be in a complete CEO on March 31. She played a leader in Nike, Athleta, and Sephora, and also served as a director of Impossible Foods and Instacart. According to the company, she will be accustomed to operating and co -op culture for the first few weeks after joining the company.
“Mary Beth has an ideal experience to build on this foundation and lead the REI to the next chapter,” said REI Chairman Chris Kar. “The world needs powerful REI. We are convinced that Mary Beth will start in earnest.”
The REI is located near Seattle and is operated as a co -op, and members can receive additional benefits than non -members. It has more than 180 stores in the United States, including stores in Kenevick’s Highland Center 129 N. Ely ST.
Alz has been working in the REI since 2012, and has been the highest operator of the co -op until May 2019. REI has been struggling in recent years, and sales have been dismissed by nearly 170 employees in 2023 due to the decrease in sales due to the new colon viral infection. 19 pandemic. The company fired more than 400 employees this month to close the REI Experience, which was providing classes.REI leaders say that this service is not profitable.
“Eric is a true caretaker, has overcome the most difficult time in our industry and our industry. Through all of that, he thinks about co -ops first and utilizes the spirit of our cooperative. He never forget to do the right thing for the Earth, the people, and the outdoor health, “Kar wrote in a letter from the association. board.
The co -op board and executives said that they were focusing on ensuring stability of employees, union members, and partners, based on the growth seen by the co -op at the end of 2024. The REI is a free cash flow close to the operating profit (operating profit before dividend) and the exercise point that we expect to achieve the 2024 benefit point.
