Our Work in Practice
In an effort to strengthen our commitment to our workforce, the company’s Board of Directors unanimously decided to transition to a 100% Employee Stock Ownership Plan (ESOP). This decision solidifies our dedication to our most invaluable resource: our exceptionally dedicated and talented employees. While MRS was already employee owned; before this the organization’s ownership was comprised of 30% direct shares and 70% ESOP.
The team at Verit Advisors, an outside financial advisory company assisting with the transition, was led by Jake Cravens, Managing Director. He states, "The transition to being 100% ESOP-owned was a great extension of their core values and commitment to employee success...the final outcome [will] continue to support the company’s desire to remain independent while creating tremendous value for its employee-owners.”
In an increasingly transient industry, the employee-owned structure has allowed us to build a workforce of long-tenured, committed team members who are willing to go above and beyond to ensure the success our clients deserve. We are proud when our employees' skills and efforts contribute to the company’s success, as well as their own.
While the ownership structure has evolved, our core principles remain the same. We will continue to take advantage of opportunities to compensate our employees and recognize their contributions to our growth.
CEO George Furnanz adds, “Moving from a partial to a 100% ESOP is essential to remain a privately held corporation as we grow and look to the future.” As we navigate this exciting journey, we want to thank our employees for their support and our clients for their trust in our company’s vision.
Together we will continue to build on the great foundation the ESOP structure has already provided us with, and we are excited by what the future holds.