Taylor Guitars announced its transition to 100-percent employee ownership through an Employee Stock Ownership Plan (ESOP).
“We have delighted in giving people the joy of music and hope to do so for generations to come,” Bob Taylor, co-founder and president of Taylor Guitars, said. “Becoming 100-percent ESOP allows us to ensure our independence for the long-term future and continue to realize our vision for the company as an innovative guitar manufacturer.”
Kurt Listug, co-founder and Chief Executive Officer, added, “While Bob and I are not retiring, we have been preparing for our eventual exit. Master guitar designer Andy Powers is not only the wellspring of our guitar designs for the future, but he also joined our leadership team several years ago, and strengthening our leadership team has been essential to our succession planning.”
Taylor’s new ownership structure supports continuity. Taylor Guitars will serve its customers, suppliers and the broader community as it always has. Bob Taylor, Kurt Listug, Andy Powers and other members of Taylor’s leadership team remain committed to the company. There will be no changes to management structure, operations policies or practices.
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