An ESOP CEO transition marks a crucial period in the life of any ESOP
CEO transitions are crucial in any business, but even more so in an employee-owned company.
Done poorly, these transitions can cause upheaval in the culture, create anxiety in the customer base and ultimately effect the business and the ESOP in a negative fashion.
To ensure a smooth CEO transition, it is essential for an ESOP to have a well-defined succession plan in place, and to communicate appropriately along the way with employee-owners.
KeyStone has developed a roadmap that lays out what we believe to be the ideal manner for creating a seamless transition. Of course, not all components fit for every business and/or situation, but the following provides a baseline and timeline for key activities.