Marketing research firm Burke Inc.
has made the transition to a company owned 100 percent by its employees. Cincinnati-based Burke completed a restructuring, buying all the remaining stock that was not already owned by its existing Employee Stock Ownership Plan.
All company stock is now held in trust by the ESOP for the benefit of Burke's employees. Employee ownership means "we are able to create a true culture of employee empowerment and responsibility,'' says Michael Baumgradner, Burke's president and CEO.
Source: Andrea W. Fisher
Writer: David Holthaus