From the
President
continued from What's new at
Karmak?
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Linda and I considered various options in
succession planning, and have decided to create an Employee Stock
Ownership Plan (ESOP) for Karmak. As we considered succession
planning, we identified whom we would choose to become the future
owners of Karmak. As we planned, we focused on four primary goals:
- Transiting management to our current
management team
- Providing an additional benefit for our
employees
- Maintaining the family atmosphere Karmak
currently enjoys
- Keeping Karmak in Carlinville, Ill. and
Springfield, Mo.
Establishing an ESOP allows us to make a
smooth transition of ownership over a period of several years. Our
plan makes me secure in the knowledge that we are accomplishing
our goals—to ensure leadership continuity, building talent from
within, and protecting not only the interest of our company, but
also that of our customers.
Sincerely,
J. Richard Schien President/CEO
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