Mead Lumber Marks Employee Ownership Milestone

Omaha-based Mead Lumber is marking milestones this fall: 25 years since becoming an employee-owned company and 10 years as being 100% employee owned.  

Founded in 1910 in Ashland, Nebraska, the company launched its Employee Stock  Ownership Plan (ESOP) on September 25, 2000, with employees owning a portion of the company.  In 2014, Bob Mead, the last Mead family member to own the company, sold his ownership stake of the company to the employees, making Mead Lumber 100% employee owned. 

“When Mead Lumber started down the road of becoming employee owned 25 years ago, no one could have predicted the impact it would have on our people and our future,” said Dave Anderson, president and CEO of Mead Lumber. “We are proud that more than 30 of those first employee owners are still with us today. Their commitment, alongside our newer employee-owners, has built a culture of trust, service and shared success. Our story is proof that when employees have a true stake in the business, everyone wins.” 

Mead says the milestone will be observed across all 53 of its locations in nine states (Colorado, Iowa, Kansas, Missouri, Montana, Nebraska, Oklahoma, South Dakota, Wyoming), with employees gathering for events, team meals and hearing from the more than 30 current employees who were part of the first group of employee-owners 25 years ago. 

Mead contends that employee ownership brings long-term benefits to the company:

"As owners, employees at Mead Lumber share in the profits of the company, which not only boosts motivation but also fosters a sense of ownership and responsibility towards the company’s success. This structure encourages a culture of collaboration and innovation, as everyone works toward a common goal of business growth, knowing that their individual contributions have a tangible impact on their personal and collective financial well-being."

Additionally, Mead says its ESOP rewards employee-owners with retirement savings tied to the company’s success, helps attract and retain top talent, and fosters a culture where everyone has a personal stake in the business. To keep that culture going strong, Mead has created an ESOP Communication and Education Committee, composed of volunteer representatives from different locations throughout the company who help keep their colleagues informed.

Mead Lumber’s celebration ties into ESOP Month, a national recognition of employee-owned companies marked each October.