The ESOP Association’s (TEA’s) Professionals’ Forum was once again a successful event for ESOP professionals to gather, share perspectives and insight, and network with peers.
The Professionals Forum began with a spotlight on ESOP Talks, which is a series focused on developing early career ESOP professionals. Several dozen attendees learned from panels of experienced professionals about how to navigate ESOP transaction issues in greater depth and then participated in a networking exercise designed to help them build business development skills.
The following day, TEA’s six Professional Advisory Committees also met for deep dives into pressing issues. From updates on legislation and litigation, to employee ownership culture ideas and the latest insight on valuation or fiduciary issues, some of the most productive time at the Professionals’ Forum is the time spent with colleagues debating and discussing relevant and timely issues. As usual, the debates were enlightening, always cordial, and sometimes lively.
Concurrent session topics over the two days covered a wide range of issues, including mergers and acquisitions, artificial intelligence, repurchase obligations and sustainability, and general ESOP trends on loans, opportunities, and even plan design and terminations. In the General Sessions, attendees heard from Jim Bonham, TEA’s president and CEO, on two particular topics of keen interest: first, a legislative update on advocacy efforts in Congress, emerging public policy issues, and the broad effects they are having on the ESOP community; and second, an update on TEA’s many educational efforts, including the Leading in an Ownership Setting (TM) program at the Darden School of Business at the University of Virginia, the ESOP Employee Accelerator program, and especially the Employee Ownership University launching this year. The event closed with an “open mic” event for the group to cover additional topics, surface any issues, and otherwise share insight.
Despite some rainy and unseasonably cold weather, Charleston still brought a warm distinct local charm to the Forum, with its walkable downtown and wide array of restaurants and shops. The chance to gather and focus together as a professional community seemed to be a refreshing opportunity for attendees.
The Association would like to thank the Chairs of our Professional Advisory Committees for their work in helping set up this successful conference, plus all of the presenters and speakers who led the important sessions and updates. Appreciation also goes out to Faegre Drinker Biddle & Reath LLP for its support and sponsorship of the Professionals’ Forum. As this year’s Professionals’ Forum was the last one in her official capacity, TEA would especially like to thank Cara Benningfield, the Chair of the Advisory Committees, for her service in this leadership role and as a TEA Board member. Cara’s guidance and dedication have advanced the Professionals’ Forum and the interests of ESOP professionals in marked ways. The next Chair of the Advisory Committees, Peter Jones, will take over in May of 2025.
The Association has several options for cities that could host the Forum in future years. Attendees should watch for the post-event survey and let us know where you’d like to see at the Professionals’ Forum in future years.
