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ESOP Article Overdue

BY NORM KOCOL, CPA

Please note: This item is from our archives and was published in 2010. It is provided for historical reference. The content may be out of date and links may no longer function.

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I am a CFO associated with a 100% employee-owned company. I found Scott Miller’s article (“The ESOP Exit Strategy,” March 10, page 32) very timely and long overdue.

It is my opinion that the ESOP tool is one of the best—if not the best—available tools for owners of companies to transfer ownership to people who helped enhance the owners’ wealth.

It is unfortunate that many who work closely with owners in the financial services area do not know about the ESOP tool or do not understand ESOPs.

Norm Kocol, CPA

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Johnsburg, Ill.

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