The owners of the Center for Toxicology and Environmental Health (CTEH) announced that the company has signed an agreement to expand the number of principals as part of an ownership change.
Several company employees will be added to the ownership group. The new employee ownership plan initially allows approximately 100 employees to share in the profits of the company, with the opportunity for additional participation in the future.
The current owners are Dr. Phil Goad, Dr. Glenn Millner, Dr. Alan Nye, Ted Snider and Cory Davis. The current leadership structure will remain in place. Snider and Davis will continue in their current roles as President/CEO and vice president, respectively. All owners plan to remain involved in the business.
“We are pleased with this decision,” said Millner, co-founder and principal toxicologist. “This will accelerate the growth and success of CTEH by helping to retain and recruit the best talent in the industry. It will also expand and personalize our high standards of providing our clients science-based environmental solutions, based on sound data, evaluation, research and response management.”
CTEH employs over 120 full time employees in nine states and another 100 part-time employees. Most of the employees work at the company’s headquarters in North Little Rock.
CTEH was started in the UAMS business incubator program in 1997 and has steadily grown over the past 16 years. The company works with businesses and government agencies when major environmental disasters occur, such as chemical spills or pipeline ruptures.
In 2010, the company was a responder on the Deepwater Horizon incident in the Gulf of Mexico involving the BP oil spill, according to the CTEH web site.
“As the original founders, we are pleased to have the opportunity to keep our prior commitment to acknowledge and reward the contribution of the many employees who have contributed to the success of the company,” said Goad, co-founder and chairman of the board. “We will continue to provide scientific and response management solutions to our many clients, and we look forward to preparing our future leadership through mentoring support on an ongoing basis.”