McElroy Metal, a 60-year-old components manufacturer based near Shreveport, La., with 14 facilities nationwide, recently announced a transition from being a family-owned concern by offering an employee stock ownership plan.

Pete Korellis is retiring as CEO of his family's commercial roofing business, handing the reins over to his employees.

McDermott has served in a variety of sales and marketing leadership roles with increasing responsibility and has been based at Garland’s Cleveland headquarters since 2016.

Garland initiated its ESOP in 1985 and became 100% employee-owned in 2004, and the company’s stock value has grown an average of 19.2% over the last decade.