ESOPs at an Inflection Point: What Executives and Boards Need to Know

EVENT SPONSOR

Panelists

Steve Golding is Vice President of Sales at Shorr Packaging Corporation and a seasoned leader in the packaging industry with more than 30 years of experience. He began his career in 1993 and spent nine years at Unisource Worldwide, serving in multiple roles including territory sales and sales management. He later joined North American Corporation in Glenview, Illinois, where he spent five years as both a Sales Manager and Territory Sales Representative.

For the past 19 years, Steve has been a key leader at Shorr Packaging Corporation, holding progressive roles including National Accounts, Sales and Sales Management leadership, Division Manager for Chicago, East Regional Vice President, and now Vice President of Sales. Throughout his tenure, he has maintained an unwavering focus on driving sales growth, elevating customer experience, and optimizing warehouse and distribution operations.

Steve has led the development and execution of strategic sales and distribution initiatives that deliver sustained profitability and year-over-year financial growth. Known for building high-performing teams and fostering a collaborative, results-driven culture, he has helped cultivate long-standing client partnerships while aligning sales execution with Shorr’s broader organizational vision.

As a senior sales leader within an employee-owned organization, Steve brings a practical, leadership-level perspective on how ESOPs can drive engagement, accountability, and long-term value creation across the workforce.

Daniel Bayston has extensive experience in corporate governance for employee-owned companies. He is a member of the Board of Directors of KLJ Engineering, Torch Technologies, Alterman Group, Inc., and Terrazzo Marble Supply Co., each a 100% ESOP-owned companies. Previously, he served on the board of directors of five other ESOP companies.  Prior to his retirement in 2021, Mr. Bayston spent over 38 years as a corporate finance professional. He spent the first 25 years of his career with the financial services and investment banking firm of Duff & Phelps (now rebranded as Kroll).  His primary focus was working with owners of privately owned companies on business valuation and ownership transition strategies, with particular focus on ESOP transactions.

Kimberly Stone is a Senior Director of Financial Planning & Analysis at Shorr Packaging Corporation with extensive experience leading financial modeling, forecasting, and performance management, as well as variable compensation management. In this role, she partners closely with executive leadership to translate business objectives into actionable financial plans that drive sustainable growth, operational efficiency, and long-term value creation.  With a strong background in budgeting and financial modeling, she oversees complex forecasting processes and delivers clear, data-driven insights to support strategic decision-making to improve profitability.

Kimberly manages all administrative and compliance aspects of Shorr Packaging Corporation’s Employee Stock Ownership Plan.  Further, she performs repurchase obligation modeling and develops funding and plan design strategies to promote the long-term sustainability of the ESOP.

Kimberly holds a Bachelor of Science Degree in Accountancy from University of Illinois Urbana-Champaign.

As a Vice President and Financial Advisor at Morgan Stanley, Taylor Lundstrom works closely with families, business owners, and corporations. She partners closely with Employee Stock ownership plans (ESOPs) and their leadership teams to provide strategic guidance around equity, liquidity planning, diversification, and long-term wealth management, helping align corporate structure and personal financial goals.

With more than a decade of experience and with Morgan Stanley since 2022, Taylor leverages the firm’s global resources, institutional research, and network of specialists to deliver comprehensive wealth management solutions. Taylor believes in building long-term relationships grounded in trust, education, and transparency. She is committed to helping her clients navigate complexity, mitigate risk, and turn financial challenges into opportunities through thoughtful planning and disciplined execution.

Moderator

Newell F. Bentley III, CFP® is Senior Vice President in Wealth Management, Financial Advisor, and Senior Portfolio Management Director at The Bentley Wilson Group at Morgan Stanley, located in Chicago, Illinois. He is dedicated to delivering personalized, thoughtful financial planning and comprehensive wealth management solutions tailored to executives, associations, and business owners. He places a strong emphasis on building long-term client relationships amid today’s complex financial landscape.

Before his tenure at Morgan Stanley, Newell spent seventeen years at Johnson Controls, Inc., serving as a mechanical engineer and program manager—an experience that continues to inform his disciplined, analytical approach to advising. His entrepreneurial background is highlighted by founding and operating a residential real estate and property management business in metro Detroit, which enriches his appreciation for the challenges and dynamics of small business ownership.

Newell holds a Bachelor of Science in Mechanical Engineering from Kettering University, followed by an MBA with a finance concentration from Walsh College. He subsequently earned the Certified Financial Planner® designation, further solidifying his professional credentials in wealth management.

Beyond his professional work, Newell is actively engaged in leadership and community service: he serves as Vice President of the Chicago Chapter of the Private Directors Association (as of January 2025), has been a board member of the Small Business Advocacy Council (SBAC) in Illinois since January 2023, has served as President of the Delta Chi Chicago Area Alumni Chapter since March 2019, and was appointed Chair of the Deerfield–Bannockburn–Riverwoods Chamber of Commerce for 2026.

He resides in Deerfield, Illinois with his wife and two children. In addition to his professional commitments, Newell contributes as a youth sports coach and nonprofit board member, reflecting his dedication to community enrichment.

Newell is licensed as a Securities Agent and Investment Advisor Representative across multiple states and holds NMLS® number 1446183.