Yvon Chouinard

Patagonia founder Yvon Chouinard’s is giving away his billion-dollar company. BoF chief sustainability correspondent Sarah Kent explains why — and what influence the change could have on the culture of business.

The company has become a standard bearer for responsible capitalism. But founder Yvon Chouinard’s latest move – giving over most of the company’s shares to a non-profit – will be a tough act for others to follow.

Founder Yvon Chouinard has transferred ownership of his company to ensure all profits are directed to combat climate change.