Green Bay, Wisconsin– EuroPharma is marking its 10 year anniversary and in celebration founder and president Terry Lemerond has gifted his employees by signing papers to share ownership of his company with every single one of them. He gives this gift in the hopes that this is a just reward for the dedication and hard work the employees have done, as well as assisting towards ensuring that the company continues to grow and prosper.
Lemerond founded the company in 2007 and will continue to be president of EuroPharma while leading the new employee-owners in the future. The EuroPharma Employee Stock Plan will assist with the ongoing growth of the company.
“The ESOP gives me a way to achieve my ultimate dream,” said Lemerond, “which is to pass the success on to the next generation. My greatest joy is to see our employees flourish personally as their efforts meet with continued success. Employee ownership is a way to perpetuate the pride we all feel today and maintain our role as industry innovators for many years to come.”
The strategy behind an ESOP is to assist employees by maximizing potential retirement income, which gives a sense of security for when that time comes. Employee-ownership is also a smart business move asstudies, such as those conducted by the University of Iowa, Villanova University and Indiana University show that by giving employees a stake in the business, profits the company sees can be on average of 4% more than non employee-owned companies. Although it may not seem like much, over 10 years this amount could be massive.
“EuroPharma is a wonderful company built by a strong team,” said Terry Lemerond. “When planning for the future, I did not want the company to be sold to an outsider. I feel that the people who helped me build this company and share the pride of our achievement deserve to have ownership. It feels fantastic to share the success with them.”
Expo West 2023: 25 Trends to Watch
May 31, 2023