COE Distributing Announces 100% Employee Ownership

PITTSBURGH - Dec. 3, 2024 - PRLog -- COE Distributing is thrilled to announce it has become a 100% employee-owned company through the establishment of an Employee Stock Ownership Plan (ESOP). This transition provides all COE employees with a direct stake in the company's success, offering equitable profit-sharing and enhanced retirement planning benefits, while reinforcing the company's commitment to sustainable growth and stability.

"Our employees have always been COE's greatest asset," said Chairman and CEO J.D. Ewing. "The establishment of the ESOP ensures that every team member has a meaningful stake in our future success and can directly benefit from COE's performance and growth. As employee-owners, we share a responsibility to each other and our customers to maintain our commitment to excellence."

The implementation of the ESOP takes COE's culture of employee engagement to the next level. Keeping employee satisfaction at the center of all initiatives, COE has continuously provided pathways for employees to develop and grow within the company, including programs such as Rising Stars training for emerging leaders, quarterly employee recognition, company goals and incentives and profit-sharing. As the official employee engagement partner of the Pittsburgh Penguins, COE also offers a peer-to-peer recognition program and personal benefits such as financial workshops, volunteer paid time off and virtual book clubs.

Employees also have a voice and direct line to management through quarterly Start, Stop, Continue surveys which encourage their input into what works well, what doesn't and ideas for changes that could improve operations.

"We are building on a culture that values teamwork, innovation, and accountability," said President and COO Michael Flaherty. "This move underscores our dedication to providing quality products and services with a team that is fully invested in delivering the best solutions for our customers."

To that end, COE announced the release of its new catalog last week, holding the line on pricing of stock products at this time. Despite shipping and supply chain challenges plaguing all industries, COE has not raised prices since 2022 and remains committed to honest, fair and clear pricing. Under the new structure of employee ownership, COE customers can expect sustained enthusiasm for providing innovative products, world-class customer service and unmatched product availability and quick delivery.

J.D. Ewing will continue as Chairman and CEO, continuing to guide COE through this next chapter of growth and opportunity.

About COE

COE Distributing is a national office furniture distributor with a passion to create inspiring work environments. Started as a family-owned business in 1947, COE sources high-quality office furniture with forward-thinking, well-planned design from around the globe. Our developers collaborate with skilled manufacturers to bring exclusive products to market, ensuring each piece meets unwavering quality standards. Our OfficeSource brand offers a line of furniture and accessories always styled right, built right and priced right. Based in southwestern Pennsylvania with distribution centers in North Carolina and Texas, COE boasts an enthusiastic team dedicated to delivering the right solutions for our customers. Learn more at http://www.coedistributing.com.