ADR & Associates, Ltd. Announces Employee Stock Ownership Plan
ADR & Associates, Ltd. is proud to announce that it has become a 100% employee-owned company through an Employee Stock Ownership Plan (ESOP). To effectuate the ownership transfer, an ESOP Trust was formed that holds 100% of the Company stock. All eligible employees will receive an annual allocation of stock that will appreciate with the future success of the Company. The plan is designed to provide a long-term retirement benefit for all employees as owners.
“This plan rewards our employees for their dedication and commitment, while creating a sustainable business model that will benefit employees and clients as well,” said Co-Founder and CEO Doug Mill. “We explored several options to transition ownership of the company and found an ESOP to be the most desirable for ourselves as owners, for our employees, and for our clients.”
“We expect that providing ownership to employees will lead to greater employee satisfaction, better employee retention and attraction, and a companywide culture of empowerment and responsibility,” adds Co-Founder and President Russ Krock. “Furthermore, since leadership and personnel are remaining in place, our clients can continue to expect the same personal touch and attention to detail that they have received for the past 24 years.”