The Davey Tree Expert Company has been named as one of the 100 largest majority employee-owned companies in the country. Davey is also the largest employee-owned company based in the state of Ohio.
The list is compiled annually by the National Center for Employee Ownership (NCEO), a private, nonprofit membership and research organization in Oakland, California. A complete list is available at http://www.nceo.org/library/eo100.html.
Davey, which was established in 1880 by John Davey, was purchased by its employees in 1979.
“Employee ownership at Davey has been a tradition for the past 30 years. It has also been an essential part of our company’s success,” said Karl J. Warnke, Davey chairman, president and CEO. “But perhaps more importantly, employee ownership will serve as a catalyst for Davey’s future endeavors. The employee commitment will help drive the company through our next 30 years.”
Overall, there are about 11,400 companies in the U.S. with employee stock ownership plans (ESOPs), the most common form of broad-based employee ownership. About 13 million workers participate in these plans. About half of these plans own a majority of the company’s stock.
NCEO Director Corey Rosen said that employment at the largest 100 majority employee-owned companies has grown steadily over the last several years. This year, it totaled almost 600,000, up from 500,000 in 2005.