520 N. Main St., Meadville, PA 16335

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Elisabeth Smith, CEO of Acutec, gave 25% of her shares in the company to Acutec workers in 2022 to create an Employee Stock Ownership Plan (ESOP). This means that workers own a portion of the company and their personal wealth will grow as the company continues to succeed financially. Workers at Acutec also have an independent ESOP committee that represents workers interests. Acutec’s decision to create an ESOP makes the company a leader when it comes to valuing workers for what they contribute to their company’s success. In this public talk, Ms. Smith will discuss why she created an ESOP, the challenges of implementing it successfully, and the reasons why other companies should adopt this approach to compensating workers.

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