Commercial Tire announced last week that the company is now 100% employee owned.

The tire company has 45 locations across the Pacific Northwest, including a Hermiston store. It has moved to an employee stock ownership plan business model, which allows employees to accrue stock over time from an employee retirement trust.

According to a news release, research has shown the business model is associated with improved employee performance and job stability.

“Selling the company could create unwanted change and instability for the people we care about,” Bob Schwenkfelder, founder and CEO of Commercial Tire, said in a news release. “This transition is about leaving a legacy for our employees and in our communities that will have a lasting, positive impact.”

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.