Andersen Corporation Distributes $31.6 million in 2021 Employee Profit Sharing

Announces 2022 profit sharing program will require eligible employees to be fully vaccinated

News provided by

Dec 17, 2021, 11:15 ET

BAYPORT, Minn., Dec. 17, 2021 /PRNewswire/ -- Andersen Corporation, manufacturer of America's most loved brand of windows and doors*, announced today it will pay out $31.6 million in 2021 to eligible employees as part of the company's annual profit sharing program. The company also announced its 2022 profit sharing program will increase to $4,000 per eligible employee and will require employees to be fully vaccinated to qualify.

Andersen Corporation Distributes $31.6 million in 2021 Employee Profit Sharing.

As homeowners across the country continue to prioritize investments in their homes, demand for Andersen's broad portfolio of window and door products soared in 2021. The company's more than 11,000 employees went above and beyond to serve its customers with different and better products and services, delivering another year of record sales.

"In times like these, our annual tradition of profit sharing is a particularly special way we recognize and celebrate the work of our employees," said Andersen Corporation Chairman and Chief Executive Officer Jay Lund.

The total 2021 payout of $31.6 million will result in an annual payout of $3,200 per eligible employee, which is $400 above the target for the year.

Andersen's century-old tradition of profit sharing dates back to 1914 when founder Hans J. Andersen personally delivered the first checks. Over the years, the structure of the program has evolved in response to the changing times. With strong customer demand expected to continue into 2022, and the ongoing threat of the COVID-19 pandemic, the company announced changes to its 2022 profit sharing which aim to further the company's commitments to protecting the health of its employees and customers, contributing to the global effort to combat the virus and attracting the talent necessary to meet the surge in demand.

"At Andersen, we made the decision earlier this year not to institute a vaccine mandate for existing employees given all we have been through together over the past 21 months," said Lund. "Going forward, we believe it continues to be our responsibility to take appropriate measures to help reduce the impact of this pandemic on our people and our communities. We've chosen to do this by incentivizing current and future employees through a vaccination requirement as part of our 2022 profit sharing program."

In 2022, the company will commit $4,000 in profit sharing per eligible employee. This will be the largest profit sharing payout the company has made since before the Great Recession. It will also be a fixed amount paid in quarterly installments of $1,000, rather than a single year-end payout based on the company's financial performance. To participate, employees will be required to be fully vaccinated against COVID-19 prior to each quarterly payment, subject to limited exceptions.

As of December 4, 2021, Andersen requires all new hires to be fully vaccinated against COVID-19 prior to their first day of work at Andersen, again subject to limited exceptions. To learn more about the many different types of rewarding career opportunities at Andersen, visit https://andersencareers.com/.

ABOUT ANDERSEN WINDOWS & DOORS
Andersen was founded in 1903 on the philosophy of working "all together" to deliver on its promise to its customers. Every day, the company's more than 11,000 employees are empowered to imagine what's possible and do what's right. Andersen delivers products for the way people live, unmatched performance for the comfort and security homeowners desire, and endless design options to achieve any style.

Headquartered in Bayport, Minn., Andersen Corporation and its subsidiaries manufacture and market window and door products under the Andersen®, Renewal by Andersen®, EMCO®, Weiland® and MQ™ brands. Andersen, a privately held company, operates manufacturing sites across North America and Europe. Andersen has earned the U.S. Environmental Protection Agency's 2021 ENERGY STAR® Partner of the Year – Sustained Excellence Award. Visit us at andersenwindows.com.

*2020 Andersen brand survey of U.S. homeowners.

SOURCE Andersen Corporation