A Westbrook marketing company and its subsidiary are now employee-owned.
Ethos, a multi-platform branding and digital agency, and its subsidiary, Vont LLC, transferred ownership to its 55 employees on Sept. 1, according to a statement from the company.
Agency founders Glenn Rudberg, Ted Darling and Judy Trepal, along with Vont President Tom Gale, will continue day-to-day management of the company. Gale has been appointed CEO of the combined entity. The four partners will now serve on the board of directors and as officers of the company. William Plumley, a longtime employee, was also appointed to the board of directors.
The Ethos ESOP operates similarly to an employee 401(k) or profit-sharing program. Company shares of stock are held in a trust and allocated to employee accounts based upon the annual equity value of the company.
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