(Green Bay, Wis.) – After three generations of family ownership, WG&R Furniture has become employee owned. WG&R Furniture CEO/Owner Jim Greene made the announcement to employees this week. The ownership change includes WG&R Furniture, August Haven and WG&R Bedding, with corporate headquarters in Green Bay and stores in Green Bay, Appleton, Oshkosh, Fond du Lac, Manitowoc and Sheboygan.
“This has been in the works for some time and it’s great to get to this point where the Employee Stock Ownership Plan (ESOP) can be announced,” Greene said. “With the many long-time, dedicated employees we have, this is a great opportunity for them to become owners.”
Under the Employee Stock Ownership Plan, Greene will remain CEO. Current day-to-day management structure will also remain in place.
“What excites me the most about this transition is the belief that employee ownership provides the optimum business structure to maximize the economic shared fate among all employees,” Greene added. “I look forward to working with the employee owners to further WG&R’s growth and impact on the marketplace.”
WG&R Furniture opened in 1946 with the slogan “A mile from downtown, ’tis true, but a mile from high prices too!” The original owners, including Paul A. Greene and Carl Greene, founded the company with the core principle of taking care of customers. Jim Greene, Paul M. Greene’s son, became owner of WG&R in 2000.