The Recreational Equipment Inc. CEO who was forced to resign over his affair with an unknown executive in the outdoor industry is a father of three who married his college sweetheart from Oklahoma State University.
Jerry Stritzke, 58, announced on Monday that he would be stepping down from his post as president and CEO of the REI co-op, a job that made him $2.8 million in 2017 and a little over $9.5 million over the past three years.
That money allowed him and his wife Edith to move into a $4.8 million mansion on uber-exclusive Mercer Island near Seattle while Stritzke was working at REI, whose profits soared to a record $2.62 billion in 2017 under his leadership.
Stritzke was forced to sell that mansion however last year and move into a $2 million bachelor pad on Lake Washington in Seattle while his wife is jujst down the street in her own $3 million home according to property records obtained by DailyMail.com.
That bachelor pad may soon be back on the market again however now that Stritzke is unemployed.
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#OptOutside: Jerry Stritzke (above with wife Edith), the 58-year-old CEO of Recreational Equipment Inc. announced on Monday he had resigned over an affair with an exec in the outdoor industry
They did: He has been married to his college sweetheart Edith since 1982 (wedding photo above)
Bank: He helped REI make a record $2.62 billion in 2017 and was compensated $2.8 million as a result, making over $9.5 million between 2015 and 2017
Family matters: Stritzke and his wife Edith (center front) have two daughters (above in back left and right with their husbands), a son (back center) and at least one grandchild
Seattle is a long way from the farm in Stillwell, Oklahoma were Stritzke spent his early years.
He opted to stay close too for college, getting a degree in Agriculture and Economics from Oklahoma State University in 1982, the same year he married wife Edith.
He then attended law school at the University of Oklahoma and began a job at a local firm where he managed to become partner at the age of 28, just a few years out of law school.
Stritzke left that office to open his own firm but soon grew tried of that, an looking for a new challenge joined the retail consulting group Webb & Shirley.
His success there lead him to Limited Brands, the conglomerate that includes stores such as Limited, Victoria's Secret, Bath & Body Works and more.
Stritzke started out as Senior Vice President of Operations for the Limited, and by the end of his tenure was Chief Operating Officer and co-leader of Vitoria's Secret.
He left that job to head to Coach, where he was named president and COO in 2008 of the then-floundering company.
That all changed however during his tenure, with Stritzke identifying the importance of growing in the Asian market and increasing sales in China alone from $30 million to $300 million in his four years with Coach.
It was during this time that he was also named to the board of Lululemon Athletica Inc, but he stepped down from that position when he left his post at Coach.
He is still on the board of directors for Williams-Sonoma Inc.
Then, in 2013, he moved to Seattle and took the top post at REI, a company that is also owned by its customers.
He stepped in for Sally Jewell, who left to take a position in the Obama administration as Secretary of the Interior.
And he and Edith went big when it was time to purchase their new home, dropping $4 million for a mansion on Mercer Island.
It is described as a 'Beckes-built home with westerly views of Lake Washington, shared beach and dock, privacy, natural light and incredible entertaining spaces.'
That home was 12,340 square feet which sat on 1.7 acres with 10 bedrooms, six bathrooms and two half baths.
Stritzke's new pad is not so bad however, with the listing noting that the 'one-level home is proudly sited on the shore of Lake Washington with forever views & a deeded, private boat slip.'
There is an eat-in kitchen with granite counter tops, a Viking range, Sub Zero refrigerator & plenty of smartly designed storage & prepping spaces as well as adjoining living and dining areas with a 'wood burning fireplace and open to the private patio for outdoor entertaining and star-gazing.'
It is much smaller however, with just two bedroom and bathrooms spread out across the 2,130 square-foot space.
He also owns a property in Colorado, which is where the family goes on ski vacations.
Digs: The pair had been living in a 12,000 square-foot Mercer Island mansion (above) down the street from Jeff Bezos but sold the property last year for just over $4.6 million
Tranquil: It is described as a 'Beckes-built home with westerly views of Lake Washington, shared beach and dock, privacy, natural light and incredible entertaining spaces' (pool and view above)
Moving on down: Stritzke now lives in a $2 million apartment (above) on Lake Washington in Seattle while his wife is in a $3 million home just down the street
Bachelor pad: Stritzke's new apartment is a 'one-level home proudly sited on the shore of Lake Washington with forever views & a deeded, private boat slip'
Stritzke's bio on the REI website states that 'when he's not leading the co-op, he’s tackling a Colorado 14er, fly-fishing and whitewater kayaking the Arkansas Rivers, skiing the Rockies, or getting grubby on Pacific Northwest mountain bike single tracks.'
In his time there, Stritzke got a great deal of attention for his decision to close all REI stores on Black Friday.
And in the past two years, the registered Republican has been an outspoken critic of President Trump, an has penned open letters denouncing the administration's immigration policies at the southern border and the attempted ban on citizens from select countries with largely Muslim populations in the Middle East.
Records show that he and wife Edith have separate residences, but it is not clear if they have split or are still together.
The couple have three adult children, and at least one grandchild.
Stritzke resigned on Monday after an outside investigation discovered he had been having 'a personal and consensual relationship' with another individual in the outdoor industry.
There was no financial misconduct however, and the company was quick to point of Stritzke's sterling track record with the company.
He will stay on through March 15, and chief operating officer Eric Artz has been named the interim CEO, a promotion that the company announced was effective immediately on Monday.
'I offered my resignation because in recent weeks the board of directors and I have had a series of tough conversations about my decision to keep private a personal and consensual relationship with the leader of another organization in the outdoor industry,' wrotre Stritzke in an open letter.
'The board oversaw a thorough investigation that was conducted by an external law firm. While there was no financial misconduct, I should have told the board because my actions created a perceived conflict of interest to the co-op.'
He continued: 'Looking back, I recognize I should have been transparent. REI expects high standards from its leaders. The board and I agree that, in this instance, my decisions did not meet them and the last thing I want is to damage REI. I deeply regret that my actions could impact the co-op. You deserve better.'
Stritzke signed off by stating: 'See you outside.'
Link hienalouca.com
https://hienalouca.com/2019/02/13/rei-ceo-jerry-strizke-who-resigned-over-affair-is-married-to-college-sweetheart-made-2-8m-in-2017/
Main photo article The Recreational Equipment Inc. CEO who was forced to resign over his affair with an unknown executive in the outdoor industry is a father of three who married his college sweetheart from Oklahoma State University.
Jerry Stritzke, 58, announced on Monday that he would be stepping down from his...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
https://i.dailymail.co.uk/1s/2019/02/13/14/9771734-6700303-image-a-1_1550069416156.jpg
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