Publix Supermarkets are one of the largest grocery chains in the United States. The company is headquartered in Lakeland, Florida and has over 1,000 stores in the southeastern United States.
Publix is a privately-held company, meaning that it is not publicly traded on the stock market. Instead, the company is owned by its employees through a stock ownership plan. This means that every Publix employee is a partial owner of the company.
The Publix stock ownership plan was created in 1940 by George W. Jenkins, the founder of Publix. Under this plan, employees can purchase shares of Publix stock at a discounted price.
The shares can then be sold back to the company at their full value when the employee retires or leaves the company. This allows employees to share in the profits of the company and gives them a financial stake in its success.
Publix is also unusual in that it is 100% employee-owned. This means that all of the shares of Publix stock are owned by its employees.
This structure allows employees to have a say in how the company is run and makes them more invested in its success. It also means that there are no outside shareholders who could force the sale of the company or take it public.
The employee ownership structure of Publix has been successful in motivating employees and keeping turnover low. In addition, it has allowed the company to weather economic downturns and maintain its profitability. For these reasons, Publix is often cited as a model for other companies looking to create a more employee-friendly environment.
Who owns Publix Supermarkets?
Publix Supermarkets are owned by their employees through a stock ownership plan.