Windings celebrates employee ownership
NEW ULM — October was National Employee Stock Ownership Plan (ESOP) Month. To celebrate, Windings, which is 100 percent employee-owned, had a variety of events to celebrate being employee owners. Some events included special breakfasts, a Halloween costume contest, cookie decorating, a lunch and free ESOP t-shirts.
ESOP is a qualified retirement plan, similar to a profit sharing or a 401(k) plan, except that the investment in the ESOP is the company’s stock.
“This year we celebrate 53 years as a company and 20 years of being an employee-owned company,” said CEO and President Heather Braimbridge-Cox. “In 1998, Windings Inc. formed an ESOP and started the journey of a planned purchase and transition of company stock from Roger and Carol Ryberg to the employees of Windings. And, in 2008, we became 100 percent employee-owned. What a legacy we have! Embracing this history and passing down traditions from long-time employee-owners — those who were here before and during the buyout — to our newer team members keeps us looking forward to the next 20 years.”
“Ownership affects everything about Windings, from how employees interact with each other to the extra effort we make for our customers… It shapes our culture and sets us apart from other companies.”