REI’s President and Chief Executive Officer Eric Artz announced his retirement on Wednesday and named a Portlander as the company’s next chief executive.

Mary Beth Laughton, a former REI board member who has held leadership roles at Nike, Athleta, and Sephora, will succeed him as president on Feb. 3, before assuming full CEO responsibilities on March 31.

Issaquah-based REI announced Wednesday that president and CEO Eric Artz will retire in March. Artz has been with REI for 12 years, including six as president and CEO.

The president and CEO of Pacific Northwest-based athletics retailer REI will be retiring from the company starting in February, marking a "new chapter" in the co-op's 87-year history. REI announced Wednesday the upcoming departure of Eric Artz,

Weeks after the retailer shuttered its experiences business, REI on Wednesday announced that CEO Eric Artz will retire in March as part of a planned succession process. Mary Beth Laughton, a former REI board director and one-time Athleta CEO, will take on the role, per a press release emailed to Retail Dive.

Laughton was an REI board director from 2017 to 2019. Prior to Nike she spent nearly four years as CEO of sportswear brand Athleta and held leadership roles at beauty product reta