Friday, November 22, 2024
HomeNewsMusic NewsTaylor Guitars Transitions Ownership To Its Employees

Taylor Guitars Transitions Ownership To Its Employees

Looking to preserve its innovative culture and position the company for sustainable success well into the future, Taylor transfers ownership of the company to its employees via a newly formed ESOP

EL CAJON, Calif. Jan. 11, 2021 —Taylor Guitars, a leading global builder of premium acoustic guitars, is pleased to announce its transition to 100% employee ownership through an Employee Stock Ownership Plan (“ESOP”).

“We have delighted in giving people the joy of music and hope to do so for generations to come,” said Bob Taylor, co-founder and President of Taylor Guitars. “Becoming 100% ESOP allows us to ensure our independence for the long-term future and continue to realize our vision for the company as an innovative guitar manufacturer.”

Kurt Listug, co-founder and Chief Executive Officer, added, “While Bob and I are not retiring, we have been preparing for our eventual exit. Master guitar designer Andy Powers is not only the wellspring of our guitar designs for the future, but he also joined our leadership team several years ago, and strengthening our leadership team has been essential to our succession planning.”

Listug views the transition in ownership as the next step to ensure a sustainable future for the company, while also providing a valuable financial benefit to people who have contributed to its success. “We believe we’ve created a special company, where passionate people can engage in problem-solving innovation, collaboration and respect,” he said. “Securing our independence through an ESOP allows us to strengthen this culture.”

Taylor’s new ownership structure supports continuity. Taylor Guitars will serve its customers, suppliers, and the broader community with the same passion and innovation it has before. Bob Taylor, Kurt Listug, Andy Powers and other members of Taylor’s leadership team remain committed to the company. There will be no changes to management structure, operations policies, or practices.

GGM Staff

The writers at Guitar Girl Magazine bring a wealth of experience from all corners of the music industry. Our writers are musicians, songwriters, producers, and passionate advocates for women in music, with years of hands-on expertise both on stage and behind the scenes. They are dedicated to amplifying the voices of female guitarists and offering insightful perspectives on gear, technique, and the latest trends in the industry. With a deep love for music and a commitment to empowering the next generation of female artists, the Guitar Girl team is at the forefront of celebrating and inspiring women in music.

GGM Staff
GGM Staff
The writers at Guitar Girl Magazine bring a wealth of experience from all corners of the music industry. Our writers are musicians, songwriters, producers, and passionate advocates for women in music, with years of hands-on expertise both on stage and behind the scenes. They are dedicated to amplifying the voices of female guitarists and offering insightful perspectives on gear, technique, and the latest trends in the industry. With a deep love for music and a commitment to empowering the next generation of female artists, the Guitar Girl team is at the forefront of celebrating and inspiring women in music.
RELATED ARTICLES

Most Popular