Mon, 09 Sep 2019 16:41:28 GMT
Barkley, one of the largest ESOP-owned (Employee Stock Ownership Plan) agencies in the US has transitioned ownership to its leadership team. The ESOP sold 100% of its shares back to the company at an all-time high valuation. As a result, a management group led by its executive team now owns 100% of the company’s stock.
Prior to this sale, a significant percentage of the stock was held by former employees who no longer work at Barkley. This change brings 100% of the shares back into the company and maintains Barkley’s competitive advantage as an independent agency. Barkley announced that it has retained all of its current leadership team through this process.
“This helps us preserve our strong culture and puts us in a great position to continue attracting and retaining the best talent in the industry,” says CEO Jeff King. “This process helped us create the best possible conditions to continue driving growth and providing exceptional value to our clients.”
“The ESOP was the right tool for the company to grow during the last 22 years,” said Dan Fromm, president and COO. “This new structure will be a catalyst for maintaining the entrepreneurial spirit that has always been at our core.”view more - Hires, Wins & BusinessBarkley, Mon, 09 Sep 2019 16:41:28 GMT