KI is proud to announce that it has completed its transition to 100 percent employee ownership through its Employee Stock Ownership Plan or ESOP. The global furniture manufacturer completed its transition on April 27.
“This change marks the culmination of my lifelong dream to transform KI into an independent, privately held, employee-owned enterprise,” said Dick Resch, KI CEO. “It’s a pivotal moment in our company’s history--and paves the way for future generations of KI employees to share in the company’s growth and success.”
KI has more than 2,000 employees worldwide. Prior to the transition to full employee ownership, the company was primarily owned by members of the Resch family and the KI ESOP. The ESOP represents a stable ownership structure that will enable the company’s growth over the long term. The transformation also gives KI employees greater opportunity to take part in the benefits of stock ownership. KI is now among the 50 largest ESOP companies in the United States.
“At KI, we take pride in our unique company culture and unwavering commitment to our employees and customers,” said Resch. “Complete employee ownership will ensure that our team, and the company, continue to thrive for years to come.”