News:
Construction Design & Engineering
Posted: April 22, 2022
Metro Walls becomes 100% employee-owned
Manchester, NH According to Metro Walls, effective January 1st, 2022, it became a 100% employee-owned company. The existing shareholders sold 100% of their shares to the employees through an Employee Stock Ownership Plan (ESOP) allowing the company to stay independent and remain focused on its purpose and values.
“This transition is extremely exciting for Metro Walls, and we are thrilled to offer this new benefit to our employees,” said president of Metro Walls, Bryan Hussey. “Becoming 100% employee-owned rewards our amazing team, keeps them invested and engaged, assists with attracting top talent and allows us to continue our growth and success well into the future. The transition to an ESOP fits our culture well, in which we want everyone to work together, succeed, and feel like part of a team. I think this is another reason people can be proud to work at Metro Walls.”
The ESOP is a special retirement plan that buys and holds stock for the benefit of the employees. With this structure, employees will share in the success and future growth of the company as they earn shares over time while working at Metro Walls. Employee ownership through the ESOP will allow Metro Walls to continue to grow, serve its customers, and sustain its culture while offering its employees this unique added benefit in conjunction with their existing full-suite, inclusive benefits package.
With this ESOP transition, there is also an exciting change in leadership. Mike Dion, the former owner & president of Metro Walls, stepped away from the day-to-day operations and moved into the role of chairman of Metro Walls’ board of directors. With that change, Hussey, former executive vice president and tenured 15-year Metro Walls employee, has been named the new president of Metro Walls. No other changes in management will take place.
“We have built an amazing company with an incredible team over the last 20 years. Now, with this move to an ESOP, I’m so happy to be able to keep ownership within the company, give back to our employees, and have the freedom to shape our future,” said Mike Dion, Chairman of the Board of Directors for Metro Walls. “I have the utmost confidence in Bryan and our talented team to continue to do an outstanding job serving our customers and expanding upon the company’s success.”
The ESOP announcement was made to Metro Walls employees at an all-company meeting on March 18th.
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