|July 13, 2017|
|Barbour Publishing employees now own the company|
|Barbour Publishing has announced its transition to an employee-owned company, effective June 30.
“The incredibly talented Barbour team is responsible for the success of the company through the years,” said company President and CEO Timothy H. Martins. “The ESOP [employee stock ownership plan] provides a long-term business succession path that ensures opportunity for all employees to benefit from continued success in the years to come.”
No immediate changes to the company’s management team or business strategy are planned in connection with the ESOP formation. Martins will remain CEO and chairman of the board, and the company will continue to operate from its 60,000-square-foot office and distribution facility in Uhrichsville, Ohio.
The company’s 36 employees automatically became shareholders without any financial investment. Employees can cash out of the plan when they retire.
Mary Burns, the company’s vice president of marketing and chief strategy officer, told The Times-Reporter of New Philadelphia, Ohio, that the employees are pleased with Barbour’s place in the Christian market.
Barbour may be best known for publishing Amish-themed fiction and nonfiction by Wanda E. Brunstetter, who, the company announced in March, has surpassed the 10 million-copy mark in book sales.
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