A billionaire donates his company to the planet

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The founder of Patagonia, a clothing brand known for its stance on environmental issues, decided at the age of 83 to donate his company, wanting to give more to the planet.
Yvonne Chouinard could sell his brand, which has an estimated value of $3 billion, according to the New York Times, or list it on the stock exchange.
However, after obtaining the approval of his wife and two sons, he decided to transfer all their shares to a trustee that ensures continued respect for the company’s values, and to an association that works to combat environmental crises and protect nature.
“Land is currently our only contribution,” he wrote, in a message published on the Patagonia website.
“I never wanted to be a businessman. I started out as a craftsman making climbing equipment for me and my friends, before switching to making clothes,” he added.
Founded nearly fifty years ago, Patagonia quickly became committed to environmental issues, carefully selecting materials for its clothing and donating 1% of its sales annually to environmental NGOs.
However, these steps were, according to its founder, insufficient.
In his letter, he said, “One option was to sell Patagonia and donate all the money, but we were not confident that the new owner would preserve our values ​​and all our employees.”
Patagonia will remain a self-interested company with a board of directors and a general manager, while the Chouinards will continue to “give direction” to the two corporate donors.

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Suraj Sewatkar
Suraj Sewatkarhttp://sktodaysnews.com
Hi !!! This is Suraj Sewatkar, a blogger by hobby and HR by profession. I like to learn new things and go to new places. I am a website developer and have developed a number of websites and blogs on Blogger as well as WordPress as well with 3 years of experience in the HR field

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