REI Announces 2007 Board Election Results

Recreational Equipment, Inc. (REI), a national retail cooperative providing quality outdoor gear and clothing, announced its 2007 board election results during its annual membership meeting held March 26.
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Recreational Equipment, Inc. (REI), a national retail cooperative providing quality outdoor gear and clothing, announced its 2007 board election results during its annual membership meeting held March 26. Cooperative members voted to return incumbents Anne Farrell and Tom Harville, and elected John Hamlin and Edward M. Schmults to three-year board terms.

Hamlin of Austin, Texas, is serving his first term on the REI board. With 20 years of business experience, he currently serves as senior vice president at Dell, Inc. of its Global Online Business and Global Brand. In April Hamlin will leave Dell to serve as president and managing partner of the Bozeman Limited Partnership, a private equity firm located in Austin. Additionally, he is a corporate board member of Safeco Insurance and Dell Financial Services.

Schmults of New York, New York, is also serving his first term on the board. With more than 16 years of retail experience, Schmults is currently the CEO of FAO Schwarz Inc. He is a former executive at Patagonia and Moonstone Mountain Equipment, and spent time earlier in his career at Goldman Sachs.

Farrell of Seattle, Wash., is the former president and CEO of the Seattle Foundation and brings to REI's board more than 30 years of nonprofit leadership in executive and development positions. She also serves on the boards of Washington Mutual Bank and WM Group of Funds, and formerly on Premera Blue Cross of Washington and Alaska.

Harville of Edmonds, Wash., is the retired chairman and CEO of The Bon Marché and served more than 30 years in the retail industry. He is the board co-chair of WIN 211 and emeritus board member of The Nature Conservancy of Washington, and is a past board member with several nonprofit organizations.

The REI board also selected its officers for 2007. Doug Walker, founder and former CEO of WRQ, was re-elected as chairman. Anne Farrell was elected vice chair.

Last month, the cooperative distributed $58 million to its active members through the annual patronage refund based on the company's 2006 sales of $1.18 billion. The record financials mark the second consecutive year where sales rose more than 15 percent. There are 3.1 million active members of REI. Based on 2006 results, the outdoor retailer will dedicate $3.6 million through its grants program in support of conservation and recreational access around the country in the coming year.

REI is an outdoor retail co-op dedicated to inspiring, educating and outfitting its members and the community for a lifetime of outdoor adventure. Founded in 1938 by a group of Pacific Northwest mountaineers seeking quality equipment, REI operates 90 retail stores in 26 states, two online stores – REI.com and REI-OUTLET.com – and an adventure travel company, REI Adventures. REI offers products from all of the top brands for camping, climbing, cycling, hiking, outdoor fitness, paddling, snowsports and travel, including its own line of award-winning gear and apparel. As an active supporter of the communities in which it does business, REI is committed to promoting environmental stewardship and increasing access to outdoor recreation through education, volunteerism, gear donations and financial contributions.


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