PALO ALTO, CA Harrell Remodeling, Inc., has been named the 2019 ESOP Company of the Year by The ESOP Association. The announcement was made at the Association’s Annual Conference in Tahoe, CA.
“Harrell Remodeling is a terrific example of an ESOP company that actively engages its employee owners, the employee ownership community, and our elected officials at the local and federal levels,” said Lisa Sten, President of Harrell Remodeling. “We are fiercely proud of our commitment to sharing the power of ESOPs both internally and externally.
Founded in 1985, the company launched its ESOP only a few years later, in 2001. By 2014, Harrell Remodeling was 100 percent employee owned with every one of our employees eligible to participate in our Harrell Remodeling ESOP.
”We are so often inspired by the many remarkable Employee Owned companies that make our ESOP Association Chapter,” states Ciro Giammona, CEO of Harrell Remodeling “To win the Chapter’s Company of the Year Award among such an impressive field of contenders is a true honor and it makes us that much more proud of our 100% Employee Owned company and our Team!”
Harrell Remodeling proudly supports our internal ESOP educational committee, comprised of employee owners from every department in the company. They meet for 60 minutes once a month and offer a wide range of educational and inspirational activities to help our employee owners learn about ESOPs and our unique company culture. Externally, they shares lessons learned by participating in and speaking at chapter and national meetings of The ESOP Association.
Founded by Iris Harrell in 1985, Harrell Remodeling is now a 100% employee owned company, and provide award winning, full-service Design + Build services, specializing in timeless residential interior/exterior design.
Learn more about our work and culture here: https://harrell-remodeling.com.
An ESOP (Employee Stock Ownership Plan) is a retirement plan permitted by federal law. Owners of a business set up an ESOP by selling some or all of their shares to an ESOP trust, which then credits shares to the accounts of participating employees. The Trust holds the shares for employees for the duration of their tenure with the company. After leaving the business, employees may receive cash for the value of their shares or roll the funds they receive into another qualified retirement vehicle. ESOPs are the only retirement plan authorized to invest primarily in the stock of the employer. Under specific conditions, employees are legally entitled to diversify their ESOP funds and to invest assets outside of the company.
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