Purcell Tire becomes 100% employee-owned
After 38 years at the helm of Potosi, Mo.-based Purcell Tire & Rubber Co., Bob and Jaunita Purcell have transferred 100% of company ownership to their employees.
"Bob and Jaunita's decision to create the Employee Stock Option Plan was done because of their belief that the tremendous growth and success of the company has resulted, in no small part, from the efforts and good work of its faithful and dedicated employees," say Purcell Tire officials.
"We believe that the ownership culture this will create will greatly benefit all our customers," says Bob Purcell.
Purcell Tire & Rubber is the third largest independent commercial tire dealership in the United States, according to Modern Tire Dealer research. The company's operations cover 38 states.