In this episode, Jason Miller and Makenzie Wirth interview brothers Marc and John Farrell about their company’s transition to employee ownership and the multi-generational legacy behind it. The Farrells share the history of their 80-year family business, why they chose an Employee Stock Ownership Plan (ESOP) over other transition options, and what they learned in the early stages of becoming employee-owned. From succession planning and leadership transitions to culture and communication, this conversation offers practical insight into ESOP planning and preparing for an ownership transition.
For business owners considering their company’s future, this episode explores the advantages of ESOPs and emphasizes the importance of thoughtful preparation. It also shows how ESOP advisory services can help owners evaluate their options, preserve their legacy and build a strong foundation for long-term employee ownership.
View Doeren Mayhew's ESOP advisory services: https://www.doeren.com/services/advisory/esop-advisory
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