The Austin American-Statesman recently covered P. Terry’s Burger Stand’s transition to an Employee Ownership Trust (EOT) and the introduction of a new company-wide profit-sharing program. The article was written by Julianna Duennes Russ.
The story explores how the new ownership structure allows employees to share in the long-term success of the company while helping preserve the culture, independence, and values that have defined P. Terry’s since its founding. It also highlights the new profit-sharing program, which begins at 5% of operating income for employees with more than two years of tenure, with plans to increase that amount over time. The article includes comments from Patrick and Kathy Terry about their commitment to building a business that continues to invest in its people for generations to come.
The transition marks an important milestone for P. Terry’s and reflects the company’s long-standing belief that taking care of people and building a great business go hand in hand.
Read Julianna Duennes Russ’ full article in the Austin American-Statesman.
