South Bend company transfers ownership to employees
Employees of Midwest Orthotic Services and Surestep were surprised with big news from the company’s founder Wednesday.
They thought they were celebrating founder Bernie Veldman’s 50th birthday, but Veldman told his employees they are all part owners of the company.
“Congratulations, you now owners,” said Veldman. “You now own your future.”
Midwest Orthotics and Surestep’s parent company Dienen, Inc., transitioned to a 100 percent Employee Stock Ownership Plan (ESOP) on January 4th.
Veldman and his wife Pam didn’t tell his employees until the party January 13.
“This is a long-term strategy to assure that our company’s tradition of service and quality care will continue in the communities we serve,” said Veldman, who will remain the company’s president. Pam Veldman will continue as vice president, and all of the company’s leadership will remain in their positions.
The South Bend office employs 100 people.