Fourth Generation Fully Leads WillowWood

October 21, 2016

Contact: Lisa Watkins
740.869.3377 ext. 106

Fourth Generation Fully Leads WillowWood

After years of being a core shareholder in the company, Bob Arbogast has sold his shares in WillowWood to his four children. The transfer of company ownership was shared publicly on August 31, 2016.

Through an outright purchase of Bob Arbogast’s company shares, and those from the estate of his brother Joseph, company ownership was transferred to his children, Michelle, Lisa, Leslie, and Ryan Arbogast.  Majority shares are now owned by Ryan Arbogast who has served as WillowWood’s president since 2011 and oversees all company operations and sales. The remaining company shares are divided among Bob Arbogast’s three daughters.

“This is an exciting time at WillowWood,” remarked Ryan Arbogast. “We’re remaining a privately-held family business, and we’re exploring new opportunities for investment and new technologies to utilize in the development of prosthetics.”

With the passing of Bob Arbogast’s brother in August 2015 and the settlement of his estate, the family took action to ensure shares were purchased by family members and that WillowWood’s future would remain secure. The family shared the change in ownership news with employees at a company meeting in late August.

Founded in 1907 by William E. Arbogast, WillowWood has survived and prospered as a family business for 109 years. Each generation of the family has made its mark on the company with determination through uncertain national and global crises, the development of new prosthetic products, the utilization of emerging technology, and expansion of the physical plant, market share, and staff.

“There’s research stating that only three to four percent of all family businesses reach the fourth generation or beyond,” said Lisa Arbogast. “My family is proud of the work we’ve accomplished and all of us are looking forward to continued growth and success in helping amputees regain their mobility with WillowWood’s prosthetic products.”

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