Deschutes Opens Employee Stock Ownership Program

From Deschutes:

Last week, stockholders made the very first contribution to the brand-new Employee Stock Ownership Program (ESOP) trust at Deschutes Brewery.

Providing ownership in the company to its employees was the perfect way to help the brewery celebrate its silver anniversary this year and enable employees to share financially in Deschutes Brewery’s continued success.

While employees have always been committed to advancing and ensuring the success of the company, this program will instill an even more significant commitment – at every level – to the brewery’s future adventures.

The program is being administered by Neil Brozen, an independent ESOP trustee from Bankers Trust Company.

Employees will gain shares of the program based on time served with the company (back years of service are being honored).

While employees now own a portion of the company, founder Gary Fish and various family members control the majority of shares, maintaining their commitment to the long term success of the brewery. Now, not only is the Oregon-based brewery family-owned, it is also employee-owned.
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