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ESOP Governance and their Ownership Culture

ESOP / Culture
by Jack Veale

Governance in the Dictionary means: “to Govern.”  The Dictionary term for Govern is: “to direct the actions and behaviors of others.”  With the stories of Enron and others relating to bad governance and Sarbanes Oxley impacting public companies, what should an ESOP company board do with potential liabilities involving the DOL?   My answer is: “if you have a functioning board including committees, composed of at least one independent director with deep experience in board governa

Transition from Family Business to 100% ESOP

by Email From Joseph, Chair and former CEO, of a 100% ESOP-Owned Company

"Jack, you and your team lit a fire with me and motivated me to get this CEO Succession done….  and done right.  However I did not want my fingerprints on the selection because I wanted to preserve the family relationships in the event my son was not successful.

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  • Case Study 1

    CEO of a growing company is nearing retirement.  The management team is not deep or ready to take over.  There are no family members active in the company, and there is talk of selling to an ESOP.  We assessed the organization with a SWOT analysis and long term financial forecasts to position the management team for the buy-out.  In addition, we assisted the organization with team building, process mapping, and value stream mapping systems.  Additionally, the owner began to develop a board of directors, using the advisory board process to eventually convert t

    What We Do : ESOPs

    Statistically, nearly half of the ESOPS will not survive the next 10 years due to many factors.  Our distinction within the ESOP community is our ability to integrate ownership culture initiatives, with succession, governance and improved shareholder value. During this same 10 years, about 20% of the workforce will be retiring, leaving huge gaps of institutional knowledge and leadership experience.  In the last 5 years, over 1,000 esops changed their CEO or CFO, causing challenges in leadership experience. Is your company at risk with these issues?

    About PTCFO : Involvement

    We are actively involved in the following organizations. For more information, click on their icon to visit their website.


    What We Do : Succession

    Over the next 10 years, over 50% of the privately held, family owned or ESOP  businesses will be changing ownership.

    Are you one of them?

    What is your Plan?

    What We Do

    Our experience, skills, expertise and resources with other qualified specialists can improve profitability through a series of strategic and organizational changes, including: