34
THE DAVEY BULLETIN
|
March/April 2019
FROM THE ARCHIVES
40 YEARS OF
EMPLOYEE OWNERSHIP
For 40 years The Davey Tree Expert Company has built
and maintained a culture of employee-ownership.
Several important milestones since March 15, 1979,
when ownership of the company passed from the
Davey family to the employees, show how employee
ownership has developed over the past four decades.
March 15, 1979
Ownership of the company officially
transfers to the employees
1982
The Employee Stock Purchase Plan
is established, allowing employees
to buy stock through payroll deduction
at a 15 percent discount
1987
A four-for-one split allows active
employees to buy 4 shares for every
one original share purchased
2005
Davey is listed on the National Center for
Employee Ownership's first Top 100 list
as the 16th largest employee-owned firm
in the U.S. Davey is now 12th on the list.
2009
Davey celebrates 30 years of
employee-ownership
2018
Forbes names Davey 294th on its Top 500
List of Best Employers in America for 2018
November 1, 1977
Alexander M. Smith,
CEO and husband
of Evangeline
Davey, announces
plans to sell
the company
September 12, 1978
Davey Tree's board of
directors approve the
employee's purchase offer
1981
The company buys 62,000 shares
from Martin L. "Brub" Davey, Jr. Brub
delayed selling his shares so the employees
could more easily afford the acquisition
1983
A three-for-one split allows active
employees to buy three shares for every
one original share purchased, thus making
it easier – and more affordable –
for active employees to obtain stock
1996
A two-for-one stock split is offered
and followed by two more such
splits in 1999 and 2008
2005
"Do It Right Or Not At All: A Case
Study of The Davey Tree Expert
Company" is published by the Ohio
Employee Ownership Center
2014
Then Davey CEO and President Karl
Warnke at the Ohio Employee Ownership
Conference
2019
Davey
celebrates
40 years of
employee
ownership
