Last Tuesday July 19 was one of the most important days of our company's 96 year history. Last Tuesday we became a 100% employee owned company! For the first time ever, a William's family member no longer has any ownership in the company. All of this was planned and anticipated. Beginning in 2005, Bruce and Alan looked at all of their options and decided that keeping our family business together was important. Thus in 2007 the ESOP was formed and the transition from Bruce and Alan, to all of us began.
So what does all of this mean for you? It means that you and all your fellow team members literally own 100% of this company. It means the debt we have taken for the remaining stock is all of our responsibility to pay back. It means that your daily performance will be critical to the future health of the company. It also means that if you stay on the team for a long period of time, that your retirement years will be improved significantly.
You see at its heart, our ESOP is a long term wealth building plan. It's a way for our company to assure that once you retire, you have some additional cash to help with your retirement savings, your 401K, and your other retirement assets.
The longer you are on the team, the more valuable your ESOP stock becomes.
All of the benefits of our ESOP come to you as a gift. No charge. Nothing to contribute....except your talent, your energy, your dedication and your loyalty.
It's an awesome time to be on the Williams team! I look forward to the coming year!
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