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After more than 75 years of Herbert family ownership, Herbert Lumber, Riddle, Or., has become a fully employee-owned sawmill.
As of May 31, the company transitioned to an Employee Stock Ownership Plan & Trust (ESOP). As a 100% ESOP-owned company, a portion of all future stock will be held in trust by the ESOP exclusively for the benefit of Herbert Lumber employees.
“I am excited by the tremendous opportunity that our ESOP offers to the employee-owners of Herbert Lumber,” said Lynn Herbert. “I look forward to continuing to serve as CEO throughout our transition, doing all that I can to ensure this new chapter in Herbert Lumber’s history is a rewarding success for each of you. I am confident that our ESOP will help preserve our well-earned reputation for many years to come.”