REI CEO announces surprise retirement
Jan 23, 2025, 10:10 AM
Headshot of CEO and president of REI, Eric Artz, who's retiring this March. (Photo courtesy of REI)
(Photo courtesy of REI)
The CEO and president of REI, Eric Artz, announced he is retiring. The Issaquah-based co-op stated Artz will leave the position at the end of March.
Mary Beth Laughton, a former REI Board Director, will join REI as president on Feb. 3 before assuming full CEO responsibilities by March 31.
“Eric has led and stabilized REI through some of the most challenging years the retail sector and our co-op ever faced,” Chris Carr, Chair of the REI Board of Directors, said in the announcement. “REI is in a strong position today because he always kept our purpose, values and people as his north star.
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“Mary Beth has the ideal experience to build on this foundation and to lead REI forward into our next chapter,” Carr continued. “The world needs a strong REI, and we are confident Mary Beth will hit the ground running.”
In addition to being a former REI board director, Laughton also served as a board member for Instacart and previously led Nike Global Direct to Consumer Sales. She has also held leadership roles with Athleta, Impossible Foods and Sephora.
Artz had been with REI for 12 years, including six as its president and CEO, guiding the company through the COVID-19 pandemic.
“We have accomplished more together in these 12 years than I ever imagined, at times making our way through the unimaginable, and confronting many tough choices together,” Artz stated in a letter to the company. “While there is never a good moment to step away from an organization you love, we have positive momentum in the business and are in a much better position.”
This announcement comes on the heels of the outdoor retailer REI laying off 180 full-time and 248 part-time employees, including 67 in Washington. REI’s “Experiences” division, which includes outdoor classes, events and tours, also folded as it was deemed unprofitable.
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Despite the announcement, the company saw financial growth in December, meaning REI was close to breaking even financially in 2024. REI lost $311 million in 2023.
“Serving you and this enduring organization has been the honor of my professional life,” Artz continued in his letter. “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.”
Frank Sumrall is a content editor at MyNorthwest and producer of the Seattle Seahawks podcast, The Reset with Gee Scott. You can read his stories here and you can email him here.
