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What's An ESOP And Why Did A Big Travel Management Company Adopt One?
Republished with permission from TheCompanyDime.com
By Jay Campbell | January 4, 2018
One of the world's largest corporate travel agencies, Pennsylvania's World Travel Inc., before the new year announced it established an employee stock ownership plan. The company issued new shares in December as it became 100 percent employee-owned.
A Special Announcement from Our Chairman, Jim Wells
I am excited to share something very special with all of our customers. World Travel has completed an employee stock ownership plan (ESOP). What sets World Travel apart from the competition is foremost our talent: a caring, creative, knowledgeable, hardworking team that is driven to provide service excellence. Over the past 35 years, we have grown to one of the top travel management companies in the world without acquisitions. This is pretty remarkable, and all the credit goes to our team and loyal customers who appreciate the services we provide. Thank you for your support!
My family made the decision to become an employee-owned company to support local communities, retain jobs, and to ensure World Travel’s continued success and legacy for future decades. Our board of directors and management team remains in place. The ESOP will reward team members for their strong performance and will help World Travel to continue to attract and retain experienced and dedicated talent. No one has a stronger interest in caring for and promoting the success of a business and its customers than the people who benefit from that success. World Travel will continue to offer the world-class service it is known for, without any interruption.
As an ESOP, we will invest in the future of our team members, clients, and our company. We are excited to see the company grow in the hands of the people who made it what it is today. Our team is motivated more now than ever before to meet and exceed your expectations.
James A. Wells
Chairman, World Travel, Inc.
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