CEO Announces Plans To Transfer All Shares Of His Company To Employees Within Next 5 Years

ONTARIO (CBSLA.com) — A self-made millionaire and the chief executive officer of a manufacturing company in Ontario has announced plans to transfer all shares of Vantage LED to his employees within the next five years.

"We've basically aligned the company so that their all focused with one purpose versus being distracted with all the stuff of their daily life right now," said Chris Ma, who recently made the announcement.

The news was difficult to digest for longtime employee Josie Salitrero, who said she was "excited, floored, and very emotional."

She didn't quite understand the concept: a CEO who was only asking for hard work giving away his fortune so employees could live a more comfortable life.

It's a concept Ma lives by: treat your employees right and they'll want to do a good job.

He believes one person can only have so much so he's giving the company to the people who built it . Within the next five years, all company shares will belong to employees.

"They put a lot of their heart, their passion into the organization," said Ma. "And it's great that they get to get the rewards of it."

But that's not all Ma has done.

He's also planning on helping all of his employees pay off their mortgages. So far, he has paid off 10.