WESTLAKE VILLAGE, Calif. – October 2007 - Chatsworth Products, Inc. (CPI), a leading manufacturer that sets the benchmark by providing superior structural support to organize, store and secure IT infrastructure equipment received the 2008 Employee Stock Ownership Plan (ESOP) Company of the Year award from the California/Western States Chapter of the ESOP Association.
| The ESOP Company of the Year award received by CPI is presented annually to companies that maximize their ESOP's value to benefit employee-owners. CPI employee-owners not only realize the satisfaction and advantage of ownership, but take pride in helping the company achieve phenomenal growth through continued and committed involvement. “Employee-ownership is a core value of CPI, and this award recognizes that our ownership culture is embraced and fully supported by our leadership team. As a result of CPI’s ownership culture, our employee-owners are motivated to work together to delight customers with superior service and quality products. ESOP is a win-win-win for our customers, our employee-owners and our business,” explained Larry Renaud, President and Chief Executive Officer of CPI.
As part of this prestigious award, CPI will now be entered as the California/Western States representative at the national ESOP Association event in Washington, D.C., during May 2008. “CPI would like to thank the Western States Chapter of the National ESOP Association for this recognition. We know there were other very deserving ESOP companies also considered. The 2008 ESOP Company of the Year award is an honor that we accept with humility,” stated Mr. Renaud.
For the past 16 years CPI has been a strong believer and advocate for the ESOP concept and has proven to be an exceptional leader in this community. New ESOP companies look to established companies like CPI for guidance on how to chart a successful ESOP future. For more information on CPI’s ESOP please visit www.chatsworth.com/ESOP.