Trendway Launches Employee Ownership Plan
Starting from the date of the announcement, all qualified employees on the payroll are eligible to participate.
Mairi Beautyman -- Interior Design, 5/23/2006 12:00:00 AM
Last week, office furniture manufacturer Trendway Corporation launched an Employee Stock Ownership Plan (ESOP) at an all-employee meeting. The equity benefit, says company chairman, Don Heeringa, will allow Trendway employees “to share in the growth and success of the company, as well as supplement our cash profit sharing and 401(k) plans.”
The ESOP was initiated to formalize the participative management culture, increase performance and operational excellence, reinforce and strengthen the team environment, and reward dedication, according to press material. The program is open to all qualified employees on the payroll, effective immediately.
Trendway, based in Holland, Michigan, manufacturers systems and freestanding office environments and seating which are distributed throughout North America. Initiated in 1968, the firm is an employee-owned company.
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