MIDDLETON, Wis.--(BUSINESS WIRE)--Ed Hurley has always been interested in building and fixing things. A maintenance technician at Electronic Theatre Controls (ETC), Hurley works to keep facilities and machines running in Mazomanie and Middleton, Wis., where about 99 percent of ETC’s products are made.
This January, Hurley and more than 850 of his fellow employees were given 33 percent of ETC stock by CEO Fred Foster and fellow ETC owners, Susan Foster, Gary Bewick and Bob Gilson. This uniquely structured Employee Stock Ownership Program (ESOP) will be distributed to employees as a retirement benefit.
“My pride and the pride of this company is in our employees. It’s just the right thing to do to recognize them for contributing to the success of our company,” said Foster. “Another reason we’ve been so successful over the years is because we’re privately held, so we’ve been able to run ourselves. By offering this ESOP, we’re making certain that in a year, five years and generations to come, the company is preserved and employees have a voice in its future.”
Employees based at ETC offices in the United States, as well as future U.S. employees, are eligible for the ESOP. International ETC employees will be given additional benefits that provide similar rewards to their colleagues based in the U.S. The program also gives employees the opportunity to vote should a business try to acquire ETC in the future.
“It’s an awesome feeling knowing the company truly values me as an employee,” said Hurley. “I couldn’t be more proud to work for ETC.”
About ETC
Electronic Theatre Controls (ETC) is a global leader in the manufacturing of lighting and rigging technology for entertainment and architectural applications (e.g., theaters, restaurants, schools television studios, theme parks). Since its founding in 1975, ETC has earned its reputation for unmatched technical and customer service.
Headquartered in Middleton, Wisconsin, ETC has offices throughout the world and employs more than 1,000 people. More information is available at www.etcconnect.com.