Life Cycle Engineering Receives Silver ESOP Award
March 29, 2018
There are approximately 7,000 active Employee Stock Ownership Plans (ESOPs) in the United States, covering roughly 14 million employees. These employees receive a valuable benefit: an ownership interest in the company. ESOP programs help build an “ownership culture” of shared goals and incentives between employee and organization.
Life Cycle Engineering (LCE) is proud to receive the Silver ESOP Award, which recognizes the commitment in sustaining their ESOP for 25 years or more. LCE is one of 41 corporate members of The ESOP Association to be honored in 2018 with a Silver ESOP Award.
Bob Fei, LCE’s president and CEO, said, “Our ESOP program was implemented 32 years ago with the goal of enhancing our already awesome culture with a culture of ownership where employees benefit from the growth of our business. Congratulations to all LCE employee-owners for this recognition of your efforts.”
“I consider it an honor, and a statement of significance, to recognize Life Cycle Engineering as a Silver ESOP Company,” said J. Michael Keeling, President of The ESOP Association. “Life Cycle Engineering evidences that with proper management and planning, a company can remain employee-owned, benefiting all employees for years to come.”
As a Silver ESOP Award recipient, LCE will be recognized at The ESOP Association’s 41st Annual ESOP Conference in Washington, D.C., May 24-25, 2018, and will be highlighted at the 27th Annual Awards Ceremony on the evening of May 23rd.
