Posted 12 months ago
Eagle Communications is now officially 100% employee owned. The Eagle Communications Employee Stock Ownership Plan (ESOP) has successfully completed the purchase of the remaining shares of the company’s stock.
An ESOP is designed so that each eligible employee shares in the ownership of the company.
This stock purchase, in addition to being named the Heart of America ESOP of the Year, the purchase of radio properties in Manhattan and Junction City and the addition of Whole Home DVR and up to 100 MG Internet for the broadband division has made it a very successful year for the employee owned company.
“When I first heard about the ESOP and how it might work I thought it was a wonderful opportunity for our employees,” Eagle Chairman Bob Schmidt. “If I had written a script, it would not have varied from exactly how this has played out with the leadership of Gary Shorman and Kurt David. I want to thank everyone. I am pleased to have loaned the dollars and financed this and I want our employee owners to know that this has been good for me and it is certainly good for them. It is what our ESOP is all about.”
“With the commitment and guidance of company chairman Bob Schmidt, we were able to make this important step on behalf of our employee owners,” said Eagle Communications President and CEO Gary Shorman. “This is an exciting time for our employee owners and today’s purchase will have a very positive impact on them. Bob and Pat have continued to show their generosity by helping make this important process possible, as we turn another chapter in our award winning ESOP story.”
Eagle employees have held ownership in the company since 1998. Now holding a 100% ownership interest, the employees more than ever have a clear and tangible interest in the long-term success of the company. United by this common goal Eagle employee owners are dedicated to the customer’s success as well as their own.
Eagle Communications participates and is a member of the Heart of America Chapter of the ESOP Association.