This story was originally published in Architectural Lighting.
Douglas W. Hagen, founder of B-K Lighting, a Madera, Calif.-based landscape and architectural lighting manufacturer, has announced that the company is now 100% employee owned thanks to an employee stock ownership plan.
In a prepared statement Hagen said, “It’s been my dream all along to turn this company over to the employees by adopting an Employee Stock Ownership Plan (ESOP). I have always worked hard to cement B-K Lighting’s legacy in this industry and to help secure a future for every family at B-K Lighting–an ESOP allows me to transition that legacy to the people who helped me build this company.” Moving forward, Hagen will serve on the board of directors as Chairman of the Board and serve as a business advisor for B-K Lighting and Teka Illumination.
“This new ‘Customer Focused-Employee Owned’ mentality will preserve the corporate culture and family atmosphere instilled by Mr. Hagen, with the added benefit of increased employee accountability and buy-in. Over the years, he has built a team that mirrors his commitment to serving the lighting community and I am proud that we can take this next step together,” said Nathan Sloan, President and CEO of B-K Lighting and Teka Illumination.
This story was originally published in Architectural Lighting.
