Gerding Companies, the prominent construction company based in Corvallis, has selected a new CEO. The former CEO and familial owner of the company, Tom Gerding, has stepped away from the role and selected longtime Chief Financial Officer Monte Smith to replace him.
Smith helped see the company through its transition to an employee-owned company back in 2017 after then-CEO Gerding sold the entire company to an employee ownership stock plan. This is a type of trust which transfers 100% of the ownership to employees — similar to how Bi-Mart and Winco are employee-owned — and employees are provided stock ownership.
Smith has worked for various businesses in the Corvallis area for the past 25 years, according to a follow-up email from the company.
“He’s been with Gerding since shortly after the corporate restructuring and is a fixture at Corvallis Knights games and various community events,” the email states.
Gerding Companies has 145 full-time employees and employs up to 250 people during busy building periods. Gerding is an umbrella corporation that contains Gerding Builders, TGC Structural, and E.D. Hughes Excavating, which was purchased by Gerding in 2019.
Troy Shinn covers healthcare, natural resources and the Linn County government. He can be reached at 541-812-6114 or email@example.com. He can be found on Twitter at @troydshinn.