Monday, I attended REI’s annual membership meeting at our Seattle store, where members and employees gathered to meet the board of directors and hear Sally Jewell speak about our performance from the past year. Sally also thanked Tom Harville for 12 years of service on the board. He is retiring this year after reaching the board’s term limits.
Congratulations to board members Anne Farrell, Brenda Davis, John Hamlin and José Ignacio Lozano for being elected for three more years of service! More information on the directors is available here.
Sally shared that REI saw a slight increase from the previous year with 2009 sales of $1.46 billion, even through the recession. As expected, members were most excited about the 10 percent annual dividend to members, totaling more than $80 million to more than 3.9 million active members.
The talk of the night always seems to be which member has the lowest membership number. This year’s lowest number was in the 9,800’s!
In the Q&A portion of the meeting, several members asked Sally questions that spanned a variety of topics from REI’s financials to recruitment to the future of the co-op. The evening ended with an enthusiastic member, who led the crowd in a cheer, a tradition from the past few years.
REI holds our annual meeting in Seattle the third Monday of April each year, and I encourage you to look for it in 2011.