Emerging Best Practices for Boards of ESOP Companies
About This Meeting
What makes a Board in an ESOP company different? An ESOP is a form of retirement plan, so it is a different kind of shareholder. Accordingly, the board of directors of an ESOP company is in some ways "a board like any other," but in other ways it is a different kind of board, and our understanding of the role of the board in an ESOP company is evolving as ESOPs and their boards mature over time. We will begin with a high-level overview of these similarities and differences. We will spend the balance of our time discussing the implications -- for board composition, recruitment, and compensation, for board committees, structure, and self evaluation, and for board policies with respect to building long-term shareholder value, continued independent employee ownership, responding to tender offers, and related issues.NCEO Webinar replays are the recorded version of our live ESOP Webinars, using PowerPoint presentations viewed online. To purchase a twelve-month subscription providing unlimited access to all recorded ESOP Webinars, including this one, follow this link
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This replay was recorded on March 15, 2012.
Alexander P. Moss
Praxis Consulting Group, Inc.
Alex is a founder and principal of Praxis Consulting Group, where he advises employee-owned, nonprofit, and mission-driven clients in fully engaging employees to drive organizational performance. He is a frequent speaker on ownership sustainability issues, and his expertise includes ownership culture, strategy, governance, leadership, and workforce education and engagement. Alex currently serves as a trustee of the Employee Ownership Foundation and on the board of governors of the ESOP Association, and he is a past board member of both the NCEO and the ESOP Association.
Donald Romine is chief executive officer at Web Industries.
After attending Florida Institute of Technology, Don joined Web Industries right out of school when Web was comprised of one manufacturing facility with 25 employees. Web's founder, Robert Fulton, set out to build a contract manufacturing company focused on converting technology for flexible materials. Equally important was an unwavering commitment to strong values. He wanted to establish a culture that measures success by building healthy relationships, serving customers with excellent performance and respecting the inherent worth of individuals. Don was tasked with weaving those key tenets into the fabric of Web while leading the growth of the business. He has created opportunities for people to develop their full potential while driving the expansion of Web's capabilities. A key milestone was our transition to a 100% employee-owned corporation, further empowering our employees and recognizing their contributions. Don has more than 30 years experience leading Web Industries, having served as manufacturing supervisor, plant manager, general manager, vice president for manufacturing and as president since 1991.