Intrepid Group CEO James Thornton has declared the company is aiming to triple its revenue to $1 billion by 2025, becoming the world’s first adventure travel business to breach that lofty benchmark.
Thornton, pictured, said Intrepid Group revenue has grown 20% per annum in the two years since it returned to private ownership and recently confirmed annual revenue in excess of $300 million, meaning that to reach the $1 billion goal, Intrepid will have to double present growth rates to more than 40% a year.
To accelerate growth Thornton announced a top-level management restructure, appointing key executives to two new positions – Michael Edwards as Chief Growth Officer while Leigh Barnes will become Chief Purpose Officer.
“We created these roles so that we can continue to fulfill our business’s founding philosophy of helping people and the planet through travel – while creating a new industry standard where purpose and profit are not mutually exclusive,” said Intrepid Group CEO James Thornton.
He added that over the next couple of years the company will donate a further $3 million to local communities through the Intrepid Foundation, which began 15 years ago and has so far raised $5 million for more than 100 local and international organisations.
In 2018, Intrepid will be committing 0.75% of global revenue towards purpose activities, creating a team of dedicated employees to lead The Intrepid Foundation, and attaining B-Corp status.
Michael Edwards: In his role as Chief Growth Officer, Michael Edwards, formally Intrepid Group’s regional director in Europe, Middle East and Asia, will manage Intrepid Group’s Regional Directors and Marketing Services team. He will also help Intrepid Group expand its Adventure Cruising program into Asia and launch its first Antarctica charters in partnership with Chimu Adventures.
Leigh Barnes: Formerly director of North America, will work closely with The Intrepid Foundation and external partners as Intrepid Group seeks to create more shared value projects and operate a business with a purpose beyond profit.
“The board and the leadership team are confident that Leigh Barnes and Michael Edwards are the best people for their respective roles and ensure the company is both profitable and sustainable,” said Thornton.