Superfeet Employees take Stock of Company
Superfeet announces Employees Stock Ownership Plan
"If it's relatively simple and it's the right thing to do, then let's do it."
This is conclusion of the owners of Superfeet Worldwide, LP, in their recent decision to offer an Employee Stock ownership Plan, or ESOP. A strong emphasis on ethics is evident in every business decision facing Superfeet management. Superfeet honors its vision statement with this decision. "The cornerstones of our culture are to behave ethically, honestly and courteously, always striving to do what is right. We place the highest priority on the well-being and continuous individual growth of all Superfeet Associates. We honor hard work and hard efforts. We want our work and our work relationships to be dignified, challenging, rewarding and enjoyable."
Numerous opportunities for the sale of the company have presented themselves to the owners over recent years, and this is no surprise considering the reputation of the company and its product. Yet the owners knew that they would have to be intentional about preserving that which makes the company phenomenal.
In a statement to Superfeet partners, Scott Dohner, CEO of Superfeet Worldwide Inc., wrote: "We like our company and we are proud of our culture, the people who work here, the quality of our products, the way we deliver them and our relationship with our retail partners. It is unrealistic to think that these things would continue with the transfer of ownership to an outside party. The very best new partner, or partners in this case, we could have would be the people that helped build the company; the employees."
Unanimously supported within the company, the ESOP program takes effect March 31st, 2006, at which point the employees of Superfeet will be co-owners of 30% of Superfeet Worldwide.
About Superfeet
Based in Ferndale, Washington, Superfeet is the leader in the insole industry. Founded in 1977 to design and manufacture orthotics for the ski industry, Superfeet holds over 40 patents, and a product line that has expanded to include custom and Trim-to-Fit Premium Insoles for every type of sport and casual activity, and every type of footwear. REI awarded Superfeet with their 2002 Vendor Partnership Award in the Outdoorwear Division - Superfeet is the only insole company to win that award. In addition, Superfeet earned the 2004 Editor's Choice Award from Trail Runner Magazine for Best Trail Running Insole and Camping Life Magazine Editor's Choice Award for Top Gear in 2004. In 2006 Superfeet has been featured in the New York Times, InStyle Magazine, Sporting Goods Business, The Seattle Times, WalkAbout Magazine, Performance Sports Retailer, Compact Equipment Magazine, Real Simple Magazine, and Lucky Magazine.
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For more information on Superfeet Worldwide Inc., visit their website at www.superfeet.com.
Media Contact
Amanda Norenberg
Superfeet Worldwide, Inc.
1419 Whitehorn Street
Ferndale, WA 98248
800-634-6618 ext. 6623
pr@superfeet.com