REI's board is legally responsible by statute, and its Articles of Incorporation and Bylaws, for the overall direction of the affairs and the performance of REI. The board carries out this legal responsibility by establishing broad policy, and by monitoring management within the framework of these broad policy guidelines.
Specifically, the board:
Elects board officers;
Selects the Chief Executive Officer and evaluates performance;
Approves the long-range plan and annual plan;
Approves capital and corporate expense budgets;
Monitors the organization's operating performance;
Determines the distribution of profits;
Monitors the performance of the employee pension plan;
Reviews and amends REI's governance documents.
The board of directors operates by committee. Current committees are:
The board generally meets six to eight times per year. Committees meet from six plus times per year, depending on the committee. The annual meeting of the co-op is typically held each April in Seattle. This annual meeting is a time for members to meet the board of directors and senior management; hear the results of the annual election of directors; and receive reports from management about the co-op's financial performance and stewardship.
This year's members' meeting is scheduled for Monday, April 28 at 6 p.m. at the Seattle flagship store. The board encourages members to attend the annual meeting and to share suggestions, comments, or questions at anytime by mail or e-mail. Members may also wacth the live webcast by registering here.