Executive Briefing: Sell Your Business Twice – What ESOPs Mean For Employers and Executive Leaders
May 25 @ 1:00 PM - 1:30 PM EDT
ESOPs, or Employee Stock Ownership Plans, didn’t emerge until the mid-50s. Nowadays, there are more than 6,600 plans covering 14.2 million people. ESOPs are used to facilitate succession planning in a closely held company, employees are allocated shares in the company over time at no cost to them. They are set up as retirement funds, becoming part of remunerations packages — all while keeping participants focused on overall corporate performance.
Patti Plough is the President & CEO of Excel Legacy Group, LLC and after selling one of her companies through an ESOP, she now helps business owners prepare for retirement or exit their business in a dignified way.