REI CEO Eric Artz to Retire; Nike Exec Named CEO

Mary Beth Laughton, a former REI board director, will join as president on February 3 before assuming full CEO responsibilities on March 31, according to a news release.
Published: January 22, 2025

The changes at the outdoor industry’s largest retail account continue as REI Co-op CEO Eric Artz announced Wednesday that he will retire in March.

Mary Beth Laughton, a former REI board director, will join REI as president on February 3 before assuming full CEO responsibilities on March 31, according to a news release.

Laughton has held leadership roles at Nike, Athleta, and Sephora.

“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,” Chris Carr, chair of the REI board of directors, said in a statement. “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.”

REI has faced many challenges over the past few years, including the COVID boom and bust, excess inventory, labor strikes, many executive departures, profit declines, and significant job cuts.

Artz commented on his planned departure in a letter to employees Wednesday.

“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. 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. We’re seeing the fruits of our labor and have a solid foundation for a new leader to come in and take the co-op forward.”

The company said in statement that better times are ahead: REI expects to meet its 2024 goals of break-even operating profit (Pre-Dividend Operating Income) and near break-even Free Cash Flow. This is a significant improvement versus 2023 for both metrics.

SESO will have more to come on this developing story.

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Strategy & Planning Series
Strategy & Planning Series
Strategy & Planning Series