> VEOC Board of Directors Elects New Leadership

> Workshop on Business Succession and Employee Ownership

> VEOC Publishes 2008 Annual Report

Vermont Employee 
Ownership Center
P.O. Box 546
Burlington, VT 05402
Phone: 802-861-6611
Email: info@veoc.org
Website: www.veoc.org

VEOC Board of Directors Elects New Leadership

Newly elected VEOC Board President Paul Millman.

The Vermont Employee Ownership Center’s Board of Directors has elected new officers for the coming year. Paul Millman is the newly elected Board President. Millman is the president and co-founder of Chroma Technology Corporation (Rockingham, Vt.) and has served on the VEOC board since 2002, previously as Board Vice President. He brings a wealth of knowledge of Vermont’s business community and has worked tirelessly to promote employee ownership.

“I am excited to take on the important job of steering the Vermont Employee Ownership Center over the next year,” said Millman. “I look forward to working with the VEOC board, staff, and the entire business community to increase the number of Vermont employee-owned companies,” he said.

Dawn Terrill is the newly elected Vice President. Terrill owns and operates JaniTech (South Burlington, Vt.) and has been a member of the VEOC board since 2007.

Michael Gurdon was re-elected as Secretary, a position he has held since 2003. Gurdon is Professor & Associate Dean of Graduate Programs at the University of Vermont’s School of Business Administration and has served on the VEOC board since 2002.

Cindy Turcot was re-elected as Treasurer. Turcot is Chief Operating Officer of Gardener’s Supply Company (Burlington, Vt.) and has served on the VEOC board since 2002. She served as President of the VEOC board from 2002 to 2007.

Click here to read the full press release.

Space Still Available for Business Succession Workshop

A free, two-hour workshop titled “Selling to the Employees: Employee Ownership as a Path for Business Succession” will be held on December 5th from 2:30 to 4:30 pm at the West Mountain Inn in Arlington, Vermont.

The workshop is offered by the Vermont Employee Ownership Center (VEOC) and is co-sponsored by the Bennington County Industrial Corporation, the Bennington Chamber of Commerce and the Manchester and the Mountains Chamber of Commerce. 

There is no registration fee, but advance registration is required. Attendees may register online at www.veoc.org, by phone at 802-861-6611, or by email at info@veoc.org. Refreshments will be served.

This workshop will include a brief overview of ownership succession options, the pros and cons of different forms of employee ownership, and key financial and other benefits of this approach. Joining the VEOC’s Jon Crystal and Don Jamison for this presentation will be Rick Gile, founder of Rutland-based Kalow Technologies, which designs and manufactures custom control systems machinery. According to Mr. Gile,

“In 1986 I founded Kalow Technologies in my garage, and by 2004 it had grown to 40 people and $7 million in sales.  I wanted the company to continue beyond my tenure with it.  The Employee Stock Ownership Plan (ESOP) turned out to be a good way to achieve this goal.  Since the time I sold the company to the ESOP, Kalow has continued to prosper, and sales have increased to $16 million and employment to 55 people.”

There is no cost to participate, but you must register in advance. Click the button below to register.

The Vermont Employee Ownership Center has published its Annual Report for 2008. This has been an important transitional year for the VEOC, due to 2008 being the first full year of operation with support from a Small Business Administration grant which Senator Leahy helped us obtain. Because of this grant, we have been able to expand our staffing, which has already had a direct impact on our outreach and education efforts.

Click here to download a copy of the 2008 Annual Report.