With no heir to the company, Vespoli decided he didn’t want his employees to be swallowed up by a larger suburban or foreign company and be fired at will. He trusted them to navigate its direction and continue building and selling high-quality carbon fiber racing shells to coaches around the world. He is in the process of creating an employee stock ownership plan.
Read more at New Haven Independent
Explore the advantages an ESOP as an exit strategy for succession planning. Act Now