TETER has transferred 100% ownership of the company to an employee stock ownership plan (ESOP)
After over four decades in business, TETER, Inc. is changing its ownership structure to an ESOP in order to create a sustainable legacy firm and offer long-term growth opportunities to staff.
TETER’s long-standing connection to and investment in the communities of the Central Valley is at the core of its identity as a professional services firm here. Giving employees ownership of the company will increase their engagement in the places they live, work, play, and raise their families. The move will not change day-to-day operations or client relations, but the leadership anticipates that the employee-owners will demonstrate an even higher level of professionalism, quality, and service than that for which TETER is already known.
The executive leadership team, which has been an integral part of TETER for over 20 years, will continue in their positions, leading the firm’s growth over the coming years. The team includes CEO Glen Teter, COO Jenn Pike-Owens, CFO Caitlin Muradian, Vice President of Architecture Aya Shitanishi, Vice President of Engineering Byron Dietrich, and Chief Marketing Officer Robert Thornton.
“By becoming an ESOP, we have chosen to invest in our employees, our future, and the success of our firm. With this transition, our team will remain focused on our mission of Building a Better Valley while continuing to build a strong, successful organization that makes a positive impact in our industry and our communities.” said COO Jenn Pike-Owens
CEO Glen Teter adds, “I’m a big believer in a future vision. For us that means 40-50% growth in the next five years to help people succeed, to provide a home for talent, and to help Build a Better Valley. Becoming an ESOP lays the foundation for that to happen.”