Truckee’s Mountain Hardware wins company of year award
TRUCKEE, Calif. — From Sept. 23-25, a group of employee owners representing Mountain Hardware and Sports attended the Western States Chapter of the ESOP Association, where they accepted the award for Company of the Year.
The Company of the Year Award is presented to a company for its demonstrated commitment to employee-ownership and its success maximizing the benefits of the ESOP.
In 2000, the founders of Mountain Hardware and Sports formed an ESOP (Employee Stock Ownership Plan), which essentially creates an employee-owned corporation.
Initially, the ESOP purchased 49 percent of the company, before the remaining balance in 2013, making the store 100 percent employee owned.
All eligible employees, approximately 65, hold a stake in the company based on hours worked per calendar year.
In May 2016, representatives from Mountain Hardware and Sports will represent the Western States Chapter at the National ESOP Conference in Washington, D.C., where the store will be nominated for the National Business of the Year Award.
This article was submitted by Mountain Hardware and Sports in Truckee. Visit mountainhardwareandsports.com to learn more. Visit esopassociation.org to learn more about the ESOP Association.