Wienerberger Turns Employees into Co-Owners
Roughly 28% of the Wienerberger employees eligible for participation took advantage of the opportunity to invest in the company.
The Wienerberger Group recently reported that it has successfully concluded the first round of its Employee Participation Program in Austria. Roughly 28% of the employees eligible for participation took advantage of the opportunity to invest in the company. As a result of this favorable experience and the high level of interest shown in Austria, Wienerberger reports that it intends to set up employee participation plans in other countries as well.
“The high rate of participation shows that our employees believe in the strategy and the future of Wienerberger,” said Heimo Scheuch, CEO. “Our employees know the company very well. They are aware of our growth potential and know that this program enables them to benefit from the success of our company in the long term.”
Wienerberger is reportedly one of the first companies in Austria to offer its employees the opportunity to invest in the company via an Employee Participation Foundation set up within the framework of a new law. In accordance with the legal provisions, the foundation will hold the shares in trust for all employees participating in the program and will exercise the shareholders’ voting rights collectively. The dividends will be credited to the employees’ accounts. The next offer period for employees in Austria will start in 2020.
For more information, visit www.wienerberger.com.