Corporate Eagle at Oakland County International Airport Transitions to ESOP
Corporate Eagle has announced it has transitioned to a 100 percent employee-owned company by establishing an Employee Stock Ownership Plan (ESOP). Corporate Eagle, a provider of premium, membership-based fractional, and managed business aviation programs in Waterford Township, has announced it has transitioned to a 100 percent employee-owned company by establishing an Employee Stock Ownership Plan (ESOP). The ESOP model will support the company's growth strategies while creating long-term sustainability and continued investment in its team members. All eligible employees will be credited with shares of stock within the ESOP trust each year as they directly benefit from the company’s growth and success. According to the National Center for Employee Ownership, there are approximately 6,600 ESOPs in the United States.
Опубликовано : 3 недели назад от в Travel
Corporate Eagle, a provider of premium, membership-based fractional, and managed business aviation programs in Waterford Township, has announced it has transitioned to a 100 percent employee-owned company by establishing an Employee Stock Ownership Plan (ESOP).
Based at Oakland County International Airport, the purpose-driven ownership model will support the company’s growth strategies, while creating long-term sustainability and continuing investment in its team members.
“After decades of success in the business aviation industry and forging meaningful relationships and business partners across southeast Michigan, I am personally incredibly proud with this ownership transition to our long-term leadership team members and a very sophisticated group of employees for which the guardianship of our company will be especially important,” says Rick Nini, founder, chairman, and CEO of Corporate Eagle.
“I will not personally participate in the ESOP, however, I will remain chairman and CEO as I transition to retirement over the next four years. This decision will positively impact our employees, their families, and our membership for years to come.”
Three years of research, planning, and execution went on ensuring a seamless transition to a 100 percent employee-owned company. All eligible employees will be credited with shares of stock within the ESOP trust each year as they directly benefit as a stakeholder from the company’s growth and success.
“We have many long-tenured team members dedicated to creating an exemplary experience for our membership and their dedication is now becoming a well-deserved personal stake in Corporate Eagle,” says Matt Brennan, president and COO of Corporate Eagle.
“Our team members have learned about their new “owner” title and the response has been exceptional. This is exactly the right move for the future of Corporate Eagle, and I look forward to leading our continued growth with this incredible team.”
According to the National Center for Employee Ownership, there are approximately 6,600 ESOPs in the United States. The state of Michigan has just over 200 ESOP companies with only a small percentage of those being 100 percent employee owned.
Since 1982, Corporate Eagle has grown to serve nearly 100 southeast Michigan members in fractional and managed business aviation programs. Their campus includes 57,000 square feet of hangar space, more than 9,000 square feet on two stories of business and member VIP facilities, over 8,000 square feet of support facility, 40,000 gallons of jet fuel storage, and 85,000 square feet of high-load capacity concrete tarmac.
Corporate Eagle manages a modern fleet of 17 aircraft consisting of Falcon 2000s and Hawker 900XPs. It is the nation’s first and the State of Michigan’s only FAA Pt 91k fractional aircraft provider offering membership based fractional and managed business aviation programs.