One of Boston’s best-known breweries announced Thursday that it would become an employee-owned company starting Aug. 1, with CEO Richard Doyle stepping down from his executive role.
The two first opened the brewery in 1986.
Major shareholders sold about 48 percent of their holdings into an Employee Stock Ownership Plan, or ESOP.
The move will allow the company to “ensure the brewery’s independence and preserve Harpoon’s culture,” spokesperson Liz Melby told Boston.com in an e-mail.
“We don’t expect much to change,” she wrote. “The [structure] is designed to keep Harpoon true to its roots, create a road map for the future, and provide an opportunity for its employees to create real value for themselves.”
Melby also assured this reporter that the brewery’s IPA recipe would remain unchanged.