ESOP Owned Companies and Corporate Governance: Is it really that different?

02:00 PM - 03:00 PM (Pacific)
03:00 PM - 04:00 PM (Mountain)
04:00 PM - 05:00 PM (Central)
05:00 PM - 06:00 PM (Eastern)

Registration

$0    Member Registration Fee 
$30  Non-Member Registration Fee 

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 Zoom link will be sent the day before the webinar

Overview

Dispelling the mysteries of ESOP Boards, their unique requirements, and examples of real-world challenges, available nationally to all PDA members and guests during the January 18 virtual meeting of the New England chapter of the Private Directors Association.

We invite you to join our seasoned panelists, a professional, institutional ESOP Trustee, an ESOP-owned company CEO who is a Director of multiple ESOP-owned companies, and an ESOP lawyer that advises Boards regularly on fiduciary duties and practical board responses to those duties as they explore how an ESOP Board of Directors is, and is not, different from a non-ESOP owned company Board. For those unfamiliar with ESOPs, a high-level explanation will be provided, as well as a basic explanation of who’s who in the various corporate governance roles. After covering Board duties, the panelists will finish the session by exploring a few real-world Board challenges that any Board might experience.

Thank you to our National Sponsors!

 Panelists

Tabitha Croscut Shareholder and Chair of ESOP Devine, Millimet & Branch, P.A.

Tabitha is a director, shareholder and chair of the ESOP practice group at Devine, Millimet & Branch, P.A., with a national legal practice focused on Employee Stock Ownership Plans (ESOPs) as succession and employee compensation strategies. In addition to counseling her clients regarding transactional, compliance and fiduciary issues with respect to their ESOP, she has represented companies, sellers and internal and external trustees in ESOP transactions ranging from under a million dollars to over four hundred million dollars. She is a frequent speaker at conferences and seminars nationwide and presents regularly on how ESOPs can be an effective exit or transition planning tool for owners of closely held businesses.

Tabitha serves as a director of the Vermont Employee Ownership Center (VEOC), is an active member of The ESOP Association serving on its Legislative & Regulatory Committee, and the National Center for Employee Ownership (NCEO), and also serves on the Board of Trustees for the Employee Ownership Foundation.

Cindy Turcot CEO and President Gardener’s Supply Co. (GSC)

Cindy Turcot is CEO and President of Gardener’s Supply Company (GSC) headquartered in Burlington, Vermont. GSC is the leading online retailer and cataloger of home gardening products and has four retail garden centers. GSC has had an ESOP (Employee Stock Ownership Plan) since 1987 and became 100% ESOP owned in 2009. Cindy has been with the company since its inception and has held many roles. She was instrumental in the ESOP transition and is a driving force for a strong employee ownership culture. Cindy is currently Chair of the Employee Ownership Foundation, past Chair of the national ESOP Association and past President of the New England Chapter of the ESOP Association. In addition, she was the founding Chair of the Vermont Employee Ownership Center and is currently the Treasurer. Cindy also serves on the Board of Directors of three ESOP owned companies.

Jeannine Pendergast Principal Partner Spinnaker Trust

Jeannine Pendergast is a Principal Partner at Spinnaker Trust and serves as an ESOP Trustee for both on-going ESOPs and ESOP transactions. Jeannine is a certified public accountant who began her carrier auditing companies and developed a passion for ESOPs. When she entered the private sector, we worked for a large ESOP owned company as an internal auditor and served as an internal trustee for the ESOP. She has worked at Spinnaker Trust since 2015 and has grown their ESOP business substantially since joining. Spinnaker serves at ESOP trustee for companies located in the northeastern states of the US. Jeannine is a graduate of SUNY Geneseo.

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