10 out of 10 with Andrew Steinhafel, president of Steinhafels

In this exclusive interview, Home News Now contributor Mark Schumacher talks with the president of the Home News Now 125 retailer about how he rejoined the business 12 years ago as part of its succession planning. Steinhafel talks about how an Employee Stock Ownership Plan was part of the discussion and how protecting the family’s and employees’ legacy in the industry was also a major factor in the decision to develop an ESOP. “We have a lot of long-term tenured employees and they are not just employees, but they are families who have worked with our family throughout many, many years.” He also notes how the ESOP not only allowed the family to stay involved in the business, but also allowed the company to ensure a financial benefit for employees going forward. For these and other insights into how the retailer is facing and overcoming challenges in today’s marketplace, click the video link.