REI CEO Jerry Stritzke abruptly resigns after failing to disclose a personal relationship


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Jerry Stritzke, president and CEO of Seattle-based outdoor retailing pioneer REI, has resigned.

The news, announced Tuesday morning, follows an outside investigation into “a personal and consensual relationship” between Stritzke and the head of “another organization in the outdoor industry,” which Stritzke failed to properly disclose, according to a company statement.

Stritzke’s last day at REI will be March 15. Eric Artz, REI’s chief operating officer, will become interim CEO.

News of Stritzke’s departure was announced by REI board Chair Steve Hooper at an employee meeting at the company’s headquarters.

“We will always be grateful for Jerry’s drive, his many contributions to the co-op and the successes he and his team have made possible,” Hooper said in the statement. “The conclusions of the investigation, however, were clear. Errors of judgment were made and Jerry and the board agree that REI needs a new leader to take the co-op forward from its very strong position.”

In the same statement, Stritzke said, “I regret few things in life but I am sorry that I did not disclose the relationship, and it’s time for the co-op to have a new leader.” He added, “The last thing I want is to damage REI and I deeply regret that any of this could impact the co-op. You deserve better.”

This post will be updated. …read more

Source:: Daily times

      

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