“If you take care of your people, everything else will take care of itself.”
Belief in my father’s words, Biblical principle, and prayer have guided us in everything we do at Nussbaum. We are excited to announce that we’ve taken a step on a new journey.
We are now an employee-owned company.
We transitioned 35% of the company ownership to a benefit plan called an Employee Stock Ownership Plan (ESOP). An ESOP is a retirement plan invested in the company’s stock. It provides our employees with a financial stake in the company. Their actions can have a direct impact on the company’s performance and the value of their ESOP account. The company funds the ESOP and our employees benefit from the value of the company stock in their account over time. This is a free benefit to our employees. It does not replace the 401(k) or match but is in addition to them.
A Natural Next Step
Becoming an employee-owned company is the natural next step for Nussbaum Transportation. It fits with our culture of taking care of our employees and rewarding their commitment.
We are excited to bring our employees into ownership and to share financially in the company’s success that they help to create. It’s our goal to protect the nearly 75-year heritage and culture of Nussbaum by rewarding our loyal and dedicated employees, and the families, that have been responsible for our success.
It’s a great way for us to show that we appreciate everything they do.
It makes sense.
Even though this company started with my family, it’s been our employees’ honesty, integrity, and innovation that have been central to our success. It’s evident in every interaction we have. How we take care of one another, the company, our business partners and vendors, and our community… that’s the spirit of employee ownership.
Nussbaum will continue to operate under the same business model and structure. The rest of the leadership team and I will continue in our roles for the foreseeable future.
On behalf of my family and our entire leadership team, we are really excited about this opportunity. We are grateful to our employees for using their talents to help take care of this company and make a difference for those around them.
Congratulations to our employees, the new owners of Nussbaum Transportation!