After 88 years as a privately owned company, there was an ownership change in early 2016 when Reed & Reed became an Employee Owned company. The Company formed an ESOP Trust to purchase 100% of the company shares for the benefit of its employees. The ESOP form of ownership creates distinctive benefits:
• Provides for continuity of the Company
• Recognizes the people who have helped make us great
• Incentivizes employees to be the best and grow the Company to even greater success going forward
• Provides opportunity for next gen employees to contribute and build on the legacy
Leadership changes are few as a result of the ESOP transaction. Jackson A. Parker remains Chairman, President and Chief Executive Officer. Thomas Reed remains Treasurer. The Company’s board has been expanded and now includes outside directors.
No management changes are being made or are any contemplated.
The entire management team is fully committed, both short and long term, to build on a legacy of excellence to establish Reed & Reed as an Employee Owned company without peer.
Jackson Parker noted, “Tom and I are pleased to know the company’s future rests in the hands of our employee-owners. I can’t imagine a better recipe for success.”