Ferrellgas Partners L.P. recently celebrated its 25th anniversary of the formation of the company’s employee stock ownership plan (ESOP). The company is a leading propane logistics company, one of the world’s largest propane retailers, and is operating under the Blue Rhino brand, the nation’s leading propane tank exchange provider.
“When you do business with Ferrellgas, no matter where you are located in the country, you are doing business with professionals who have a vested interest in 'fueling life simply' for our customers. Our ownership mindset gives Ferrellgas a true advantage in communities ... where customers rely on propane for their energy needs,” said President & CEO James E. Ferrell.
On July 18, 1998, thousands of the company’s employees gathered at 35 meetings across the country to learn that Mr. Ferrell had transferred his family’s equity interest in the company to an employee stock ownership trust. This change allowed thousands of employees to have ownership in the company.
Earlier this year, Newsweek named Ferrellgas one of the Most Trustworthy Companies in America. After the results were published, Mr. Ferrell congratulated the company’s employee-owners for being recognized for how they conduct themselves. “This company cares about both customers and employees,” he said. “Thank you for making us what we are!”