Forty Percent of NewAge® Industries is Now Owned By Its Employees 01/23/13
The company's CEO and majority shareholder, Ken Baker, recently announced that in early 2013 he will sell an additional ten percent of NewAge's shares to the company's ESOP (Employee Stock Ownership Plan), raising the total of the ESOP's ownership to forty percent.
"This action ensures that additional shares are available to team members who are entering the plan," stated Baker in a December 13 company-wide meeting. "The shares will be purchased by the ESOP through an internal company loan, just like we did when we launched the ESOP in 2006." Read more...