Nationwide strategic conference, event, stage production and transportation provider forms ESOP
MINNEAPOLIS (Jan. 29, 2020) – metroConnections leadership is proud to share that the company has formed an Employee Stock Ownership Plan (ESOP) as of January 1, 2020, and in doing so, has made every metroConnections employee a critical business stakeholder.
The ownership transition is a further commitment to metro’s customers, as the employee ownership further cements its reputation of being known for the very high-quality services it provides. It will also reinforce and preserve the legacy, culture and independence of the company, and will strengthen the entrepreneurial spirit among employees.
“This new ownership plan has several benefits,” says David Graves, president and CEO of metroConnections. “First, it puts business ownership into the hands of those who grow the company; second, it will provide a significant retirement benefit and motivation to continue to grow the business; third, it provides a tool to motivate, retain and attract employees.”
The employee stock plan is an additional benefit to employees; there will be no changes to compensation, 401k matching or the current profit sharing plan. It is designed to create a shared mindset around the belief that the long-term success of the company can be impacted by each individual employee, and that they will be rewarded for the impact they make.
“Our employees have been the secret to metroConnections’ success,” says Tom McCulloch, chief marketing officer of metroConnections. “We’re excited that becoming employee-owned will be a win-win for our customers and will set up the company for growth and a sustainable future.”
The company’s former owners, David Graves, president and CEO; Michael Graves, chief operations officer; and Tom McCulloch, chief marketing officer; intend to remain with the company in the years ahead as they continue to direct and shape the next generation of leaders.
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Since 1984, metroConnections has provided complete conference, event, stage production and transportation services for meeting and event planners nationwide. The company operates from its headquarters in Minneapolis, Minn. The metroConnections team uses its expertise and resources to specialize in the design and implementation of themed events, stage productions, transportation, tours and conference program logistics and meetings. metroConnections also offers audio/visual and production services and is considered an industry leader in attendee web-based solutions that includes elements such as online registration and custom-built event websites. For information on planning conferences, events, stage productions, transportation logistics or corporate tours, contact metroConnections at firstname.lastname@example.org or visit https://www.metroconnections.com/.