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Episode 44: What is a Public Benefit Corporation with Clay Hagan
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In this episode, we’re joined once again by Clay Hagan of Torch Technologies to talk about a major milestone in the company’s journey—becoming a Public Benefit Corporation (PBC) in early 2024.
Clay breaks down what it means to be a PBC, why Torch pursued this rare designation, and how it aligns with their long-term commitment to employee ownership, community impact, and sustainable growth. We dive into the multi-year process of transforming Torch’s governing documents, the unique responsibilities of being 100% employee-owned, and the importance of embedding purpose and values into the company’s foundation.
From their ESOP structure to their four core commitments as a PBC, this episode unpacks the why behind the move—and what it means for the future of Torch, its employees, and the broader community they serve.
Whether you're interested in the ESOP model, corporate governance, or building mission-driven companies, this episode offers a unique look inside a company striving to lead with intention and integrity.
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