European Federation of Employee Share Ownership Looks to the ESOP

The European Federation of Employee Share Ownership (EFES), at a recent meeting of the European Economic and Social Committee discussed a new initiative to further develop employee ownership in the European Union. As part of the new initiative it was noted that the U.S. ESOP model “…should be implemented in the European Union, as it is successfully in the USA since 1974.” It was also noted that the Committee believes this is the only way to continue developing employee ownership in the European Union.

“I find it interesting that many ESOP cynics in the U.S. claim to be for employee ownership, but believe the ESOP model is inferior,” said J. Michael Keeling, president of The ESOP Association and the Employee Ownership Foundation. “Many of our European friends of employee ownership used to hold this view of ESOPs but now they have moved to the belief that the most effective employee ownership model is the American ESOP, and they want it in Europe too!”

For additional information on the EFES, please visit www.efesonline.org.

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