REI Co-op President and CEO Eric Artz will retire in March, marking a new chapter in the co-op’s 87-year history. Mary Beth Laughton, a former REI Board Director described as a “seasoned retail leader,” will join REI as president on February 3, 2025, before assuming full CEO responsibilities on March 31.
The Board of Directors said the outgoing CEO shared his intentions to retire with the Board as part of a planned succession process and he will actively support Laughton during the transition.
“Serving you and this enduring organization has been the honor of my professional life,” said Artz in a letter to employees on Wednesday morning. “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.”
During the planned handover period, Laughton will reportedly be on the road working in stores and distribution centers, building connections with employees, partners and community members.
“Eric has led and stabilized REI through some of the most challenging years the retail sector and our co-op ever faced. REI is in a strong position today because he always kept our purpose, values, and people as his north star,“ said Chris Carr, chair of the REI Board of Directors. “Mary Beth has the ideal experience to build on this foundation and to lead REI forward into our next chapter. The world needs a strong REI, and we are confident Mary Beth will hit the ground running.”
Most recently, Laughton led Nike’s global retail and digital direct-to-consumer business. Previously, as CEO of Athleta, she led the company through a period of significant revenue growth. Earlier in her career, Laughton ran Sephora’s North America stores and digital focused on the customer experience and operations.
In addition to her previous service as a REI board director, Laughton currently serves on the Board of Directors of Instacart and was formerly a board director of Impossible Foods.
“No other company balances purpose and performance quite like REI, and we must ensure it thrives for generations to come,” said Laughton. “That is a big responsibility — one I embrace with utmost respect for our millions of members and the thousands of employees whose passion for life outside and deep expertise set the co-op apart. I know that we will go further together and cannot wait to join you and build our future.”
As REI moves through this transition, the Board and executive leadership team “remain focused on ensuring stability for its employees, members and partners while building on the growth the co-op saw at the end of 2024,” the company said in a media release.
The co-op also “expects to meet its 2024 goals of break-even operating profit (Pre-Dividend Operating Income) and near break-even Free Cash Flow,” a significant improvement versus 2023 for both metrics.
Mary Beth Laughton resides in the Pacific Northwest. The company said she will be based in the REI office in Issaquah, WA when she is not working in-store or on the road.
Image courtesy REI
