BOARDMAN — The owner of Fin Feather Fur Outfitters has sold the business to its employees.

The move was made through an Employee Stock Ownership Plan, or ESOP, which involves selling 100 percent of the company, via shares of stock, to employees as part of their retirement benefits.

Mike Goschinski, who started the business 31 years ago, will remain CEO, and Rees Vail and Tom Krebs will serve as vice president of operations. Lana Bell has been named secretary/ treasurer. A board of directors has also been appointed.

“This is something I have been thinking about for a while,” Goschinski said. “Building Fin Feather Fur Outfitters has been very rewarding for me. Now I want to give back to those employees who have worked hard and participated in its success.”

Goschinski opened his first store in 1985 in Ashland. The business now has a distribution center and retail locations in Boardman, Middleburg Heights, Milan and Canton. He said the ESOP, which became effective May 31, will allow employees “to take true ownership of their positions.”

For the company’s employees, the ESOP represents an expansion of their current retirement program, which includes an optional 401(k) plan.

“Employees are encouraged to think and act like an owner. Everyone can buy into this concept, creating a better place to work for all,” Bell said.

The business will continue to focus on outdoor sports such as hunting, archery, fishing and kayaking, Goschinski said.

business@tribtoday.com