Bob Taylor, co-founder and President of Taylors Guitars, has announced that the company is transitioning to 100% employee ownership.
However, this doesn’t mean that the founders are retiring just yet. In order to prepare for their eventual departure from the brand, their goal is to create a sustainable succession plan. Following the Employee Stock Ownership Plan (ESOP), the scheme will grant employees a retirement benefit linked to Taylor Guitars’ future equity value. By providing a financially stable future for its workforce, they believe that it will ensure the company’s ongoing prosperity.
“Becoming 100% ESOP allows us to ensure our independence for the long-term future and continue to realize our vision for the company as an innovative guitar manufacturer.”
Taylor Guitars is known globally for their craftsmanship in blending modern manufacturing techniques with an attention to detail. Its success can be attributed by their collaborative environment — with employees who are equally as passionate about their work. “Securing our independence through an ESOP allows us to strengthen this culture,” says Kurt Listug, co-founder and Chief Executive Officer.
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