What’s An ESOP And Why Did A Big Travel Management Company Adopt One?

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.

While many ESOP companies go this way to give the owners an out, World Travel chairman Jim Wells said that wasn't his rationale. Sure, he's been in the business for more than three decades and his family co-owners are aging. More importantly, though, they wanted to . . .

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Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.