REI CEO resigns over relationship with executive from competitor

Jerry Stritzke has resigned from the role of President and CEO of American outdoor brand REI this week, following an investigation into a consensual relationship between him and the leader of another organization in the outdoor industry. The investigation, which was conducted by an external law firm and overseen by the company’s board of directors, found no evidence of financial misconduct.

“Jerry resigned because he and the board agree that the facts led to a perceived conflict of interest, which he should have disclosed under the REI conflict of interest policy, which requires every REI executive to model the highest standard of conduct”, said the board of directors in an open letter to all REI employees.

The board emphasized, however, that it is happy with Stritzke’s “outstanding business performance” throughout his tenure as President and CEO, which started in October 2013. “Jerry has been an excellent CEO for REI”, says the letter.

“I feel incredibly fortunate to have led this organization”, said Stritzke in the letter. “I regret few things in life but I’m sorry that I did not disclose the relationship, and it’s time for the co-op to have a new leader. The last thing I want to do is damage REI”.

REI’s Chief Operations Officer Eric Artz has taken on the role of interim CEO.

Best known for its #GetOutside campaign, REI is an American company selling sportswear, sporting goods, travel equipment and camping gear. It is organized as a consumer's co-operative.