Jerry Mathwig, founder and president of Metro Sales Inc., has announced that it is transitioning the ownership of Metro Sales Inc. to its employees through the creation of an Employee Stock Ownership Plan (ESOP). Eligible employees will share beneficial ownership in the growth of the company.
Mathwig said in an email announcement, “The employees built the company with the help of our customers and I wanted to further reward them for their contribution. This ESOP allows employees the opportunity to share in the profits they helped create. I am confident that it will provide many additional benefits to the almost 300 employees of Metro Sales Inc. well into the future.”
The plan will be retroactive to January 1, 2019.
Metro Sales Inc. corporate headquarters are located in Richfield, MN with sales offices in Duluth, Hibbing, Mankato, Owatonna, Rochester, and St. Cloud, MN. Out of state locations include Fargo, North Dakota and Hudson, WI.
Metro Sales Inc. has grown to be one of the top Ricoh copier/printer dealerships in the United States, recognized for excellence and service and is currently celebrating its 50th year in business.
According to a Metro Sales Inc. press release, the move to an ESOP will not change the management structure at Metro. Mathwig will continue in his role as president.
“This ESOP is designed as a long-term retirement benefit to keep making the company grow and reward the employees that do the hard work.”
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