Roeslein & Associates announced that it will soon be employee-owned. The Employee Stock Ownership Plan (ESOP) set up by Roeslein will involve the majority owner, Rudi Roeslein, selling a portion of his interest in the company to its employees. The sale will be made via shares of company stock to employees as part of their retirement benefits program. The ESOP will become effective beginning 1 January 2014.
Rudi Roeslein, CEO, announced the succession plan at an employee luncheon in October. The transition will take place over a period of ten years in which Rudi will continue to work with the company to oversee the transition.
“What more I can do for you is to empower you in the next transition to become owners of this enterprise. I’ve worked with my fellow owners to come up with a plan that includes all of you in an Employee Stock Ownership Plan, “ said Rudi. “That is my legacy to all of you and I hope that you’ll embrace that legacy.”
Roeslein President Dave May shared that the ESOP had been in the planning stages for the past two years. The employee benefits of the plan are the expansion of their current retirement plan. Roeslein’s customers will benefit from the retention of company culture through a clear succession plan for the organization which includes the investment in Roeslein’s most valuable resource, its employees.
“This has to be a mantra of what happens in our company. We all have to work together and communicate to help make this company grow,” said May.
Representatives were on hand from Principal Financial Group to provide details on the Roeslein ESOP to the audience after the announcement.
Roeslein & Associates was founded in 1990 with experience in container manufacturing (canmaking) as well as experience in the process and energy sectors. They specialize in Engineering, Modular Fabrication, and Construction Services. Its 250+ employees are spread throughout offices in St. Louis, MO (HQ), Red Bud, IL, Denver, CO, Birmingham, UK and ShangHai, China. To find out more, please visit https://www.roeslein.com.