VGM vests employees

Tuesday, February 28, 2006

WATERLOO, Iowa - The VGM Group announced last month that it will create an employee stock option program that over time allows staff to accumulate ownership in the company.
The long-term plan is that employees at VGM will eventually own the entire business. Over the next few decades Van G. Miller, CEO and founder; and Jim Walsh and John Deery Jr., both minority stockholders, will sell the multi-million dollar organization to is 400-plus employees. VGM provides an array of services to independent home medical equipment providers.
Neither Miller nor Walsh will be retiring any time soon. Miller will continue in his role as CEO and chairman of the board. There will be no change in day-to-day operations, which will continue to be run by the current management team.