REI Co-op announced on Thursday that president and CEO Eric Artz will retire in March 2025, with Mary Beth Laughton set to succeed him in the role.
REI names Mary Beth Laughton president & CEO. – REI
Laughton, a former REI board director and accomplished retail executive, will join the co-op as president on February 3, and assume full CEO responsibilities on March 31.
“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.”
Laughton joins REI with leadership experience from Nike, Athleta, and Sephora, as well as board roles at Impossible Foods and Instacart. She brings a combination of strategic vision, operational expertise, and a deep appreciation for the outdoors.
During a planned handover period, Laughton will travel to REI stores and distribution centers to build relationships with employees, partners, and community members.
“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.”
Coinciding with the announcement, REI confirmed that it is on track to meet its 2024 financial goals, including break-even operating profit and near break-even free cash flow, a significant improvement from 2023.
