REI leader resigns over undisclosed relationship

Posted on Tuesday, February 12th, 2019 By The Associated Press


In this May 4, 2017, file photo, Recreational Equipment, Inc. Jerry Stritzke, center, speaks to those who attended the Preview Party of the new REI Co-Op in Dillion, Colo. Officials say Stritzke, the president and CEO of outdoor retailer REI, has resigned for failing to disclose a relationship he had with the head of another organization in the outdoor industry. (Chris Dillmann/The Daily via AP, File)

SEATTLE (AP) — Outdoor retailer REI says its president and CEO has resigned for failing to disclose a relationship with the head of another organization in the outdoor industry.

REI officials at their Kent, Washington, headquarters said Tuesday that Jerry Stritzke will leave March 15.

The company says Stritzke resigned after an outside investigation into "a personal and consensual relationship."

Officials also say the working relationship between REI and the partner organization, which has not been identified, found there was no financial misconduct.

REI board Chair Steve Hooper said that since Stritzke became CEO in 2013 he and a strong team have consistently delivered outstanding results.

Stritzke said in a letter to employees that he was sorry he didn't disclose the relationship.

REI's chief operating officer Eric Artz will become interim CEO.

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Yahoo Gemini Pixel