TCE Establishes Employee Stock Ownership Plan (ESOP)
“We consider our employees to be our greatest asset and we have always rewarded them for good performance. This is a major step on that path, while offering them an additional vehicle for retirement planning. It also helps with organizational performance and provides a strong succession plan for Tri-City.
President Jack A. Olmstead, on behalf of the Board of Directors, announced at a company meeting held on March 2 that Tri-City Electrical Contractors, Inc. is now an employee owned company, through a newly established ESOP program.
“What does this mean for our clients? They can expect the same quality, commitment and professionalism that Tri-City has delivered for nearly 60 years. Our employee owned company will continue to grow, with the same culture of respect for clients, community and co-workers, as we expect our ESOP plan to sustain a powerful sense of common purpose among our AMAZING employees.
“I am pleased and proud to be one of the eight hundred employee owners of Tri-City Electrical Contractors, Inc.!”
Employees at announcement meeting. Pictured at the top are President Jack A. Olmstead, Company Founder H.L. “Buddy” Eidel, CFO Mike Germana and Vice President Rance Borderick.
In: