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EXECUTIVE INTERVIEW SALLY JEWELL Chief Operating Officer Recreational Equipment Inc.

EXECUTIVE INTERVIEW SALLY JEWELL Chief Operating Officer Recreational Equipment Inc. INTERVIEW TEAM Rita Daily Stan Eastberg Teri Wisness. Sally Jewell - Background. BS Degree – Mechanical Engineering, UW Mobile Oil Corp. – Engineer (OK & CO) (1978-1981) 19 Years in Banking Industry

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EXECUTIVE INTERVIEW SALLY JEWELL Chief Operating Officer Recreational Equipment Inc.

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  1. EXECUTIVE INTERVIEWSALLY JEWELL Chief Operating OfficerRecreational Equipment Inc. INTERVIEW TEAM Rita Daily Stan Eastberg Teri Wisness

  2. Sally Jewell - Background • BS Degree – Mechanical Engineering, UW • Mobile Oil Corp. – Engineer (OK & CO) (1978-1981) • 19 Years in Banking Industry • Rainer Bank/Security Pacific: Energy Banking, National Accounts, Credit Administration, Head of banking activities in WA (1981-1992) • WestOne Bank: President / CEO (1992-1995) • Washington Mutual: President, Commercial Banking Group (1996-2000) • REI: Appointed COO in March, 2000

  3. Sally Jewell - Board Affiliations • REI (Board member before becoming COO) • Avista Corporation (formerly known as Washington Water Power) • Premera (parent company to Premera Blue Cross) • UW Board of Regents • Mountains to Sound Greenway Trust, President • Corporate Council for the Arts • YWCA of Seattle-King County • Seattle Alliance for Education • Economics America • UW Women in Engineering Initiative

  4. Why Join REI? • Value alignment was primary criteria • Diminishing in banking role due to mergers • Strongly aligned with REI core values • Personal values • Able to speak my mind and be listened to, want to be able to engage • Want to make a difference – don’t want to be a rounding error – want to work for a company where everyone feels like they can contribute • Working for a company that values balance – work, home, community • REI required skills that Sally possessed

  5. Critical Challenges at REI • Company needed to change • Old formula not working – out of touch • Leadership had become complacent • Workforce needed infusion of energy • Atrophied and slowing • Areas requiring change • Leadership team – early retirements • Realistic view of industry dynamics and external trends • New vision and strategic plan

  6. Redefined REI Focus • Be a model financial performer • Employee excellence • Create an environment where employees chose to work • Expect them to work smart • Expectations of teamwork • Replaced players who weren’t getting along • Market driven • Increased focus on women’s categories

  7. Leadership Role in Change • Clearly communicate vision & values • Input from many • Board approval • Town hall meetings • Leadership visited every retail outlet • Every manager received copy of strategic plan • Every employee receives gift of REI merchandise at year-end • Use in-house publications to reinforce messages • GPS newsletter • Snapline

  8. Leadership Style • Informal (family-room casual attire) • Direct • Face to face • Speaks what is on her mind • Collaborative / consensus builder • Persuader – a little toward controlling • Myers Briggs – ENTP • Seeks feedback • 360 degree feedback used by REI

  9. Leadership Style (continued) • Has high expectations • Passionate about things • Remains calm – doesn’t show frustration • Supports people • Provide latitude to make decisions and exercise judgment • Decisive • May actually seek too much input

  10. Perspective on Ethics • Straight and honest talk is essential • Willing to say anything I am feeling to anybody • Should be no surprises • People know where I stand • Resolve disputes when they arise • Leave nothing to fester

  11. Leadership Philosophy • Every person is genuinely important • Low tolerance for differential treatment of people • Genuinely care about what everyone has to say • Everyone should have an opportunity to contribute • Create an environment where they can be successful • Large “No Whining” button prominently displayed on desk

  12. Fears / Uncertainties • Feel burden of people’s livelihoods based on her decisions • Agonizes over the impact of laying people off or cut backs (e.g. closure of Tokyo office) • Executive layoffs in a different category • Provided them with an option to perform differently • They self-selected out

  13. Balance - Definition • Not just work and family balance • Not just a tradeoff between working too hard and having leisure time • Need to fill in the gap in the heart • Other critical dimensions • Maintain physical fitness • Need to leverage personal strengths • Uses Board memberships to do this • Keep your mind sharp • Contribute to the community (very strong value)

  14. Balance (continued) • Very strong commitment to her children • Two children - 18 & 19 years old (recent pictures on desk) • Both parents play an active role with the kids • Creates time for family and honors the commitment • Refused attending Advanced Management Programs (UW, Stanford, Harvard) – too much time away from family • Example: Honored mountain climbing date with daughter even though it conflicted with important community meeting • Strong partnership with husband • He sacrificed his career for her career • Divergent career paths – managerial vs technical • Moved to Pacific Northwest so she could pursue her career • He picks up the family load

  15. Commitment to Community • Sees community involvement as providing the most important lesson in leadership • Chose to work for a company that values external activities • Has moved REI from a marginal commitment to a high level of commitment • REI now positioned as a community citizen • Contributes 3% of operating income to community donations • REI leaders have joined many more boards and service organizations • Huge increase in number of REI employees engaged in community service activities (e.g. trail maintenance)

  16. Mountain to Sound GreenwayExample of Leveraging Leadership • Intense passion for initiative – 13 year commitment • Dedicated to ensuring public’s ability to enjoy this amazing resource • An adaptive change • Forging a public greenbelt between Seattle and Thorpe (Kittitas County) along I-90 corridor • 60 member board • Business, government, and citizen representatives • Highly divergent stakeholder interests • E.g. Buddhist monasteries, Native American casinos, gravel mines, small towns, businesses and wineries

  17. Mountain to Sound Greenway -cont’dExample of Leveraging Leadership • Leverages consensus building and collaboration skills • Strong role model – Jim Ellis • Self-effacing & down to earth • Powerfully interacts with people • Ensures people listen to each other • Recognizes that all people have a legitimate point of view • Assumed Presidency of Ellis trust when Jim retired • A natural extension of her REI leadership into the community

  18. Reflections on Leadership • Leadership is multi-faceted • Does not come in a box with a bow • All REI direct reports are different from one another – yet all are very effective • Must create an environment that enables smart people to play in a way they feel they can have an impact • Must draw out ideas throughout the entire organization • Build cross-divisional teams to address strategic issues as a way of breaking down the silos • Culture is very very important • Must understand culture and work within it • People are the most important part of the culture

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