Stewart’s announces long-term plan to be 100% employee owned

By WNYT

Stewart’s will eventually be 100% employee owned.

The company confirmed to NewsChannel 13 on Monday that Gary and Bill Dake, the company’s president and board chair, respectively, want to sell their 60% share over the next 20 years. Employees currently own 40%.

The Dakes said this is part of their effort to keep the company local, and not sell it to a corporate chain.

The company currently has more than 350 locations in New York and Southern Vermont and more than 5,000 employees.

This story was first reported by the Albany Business Review.