CLEVELAND, OH, May 28, 2020 – Avery M. Chenin of SES ESOP Strategies was the featured guest on the most recent episode of the Ohio Employee Ownership Center’s Owners at Work Podcast.
The topic of the podcast was, “Selling Your Company to an ESOP: What You Need to Know.” Mr. Chenin discussed the process of selling a business to employees using an ESOP and what steps need to be taken, what professionals need to be involved, how long the process may take, and the financial benefits of an ESOP transaction for the owner, the business and employees. The current economic situation and its impact on selling a company to an ESOP were also discussed. The podcast is available here.
For more than 25 years, Mr. Chenin has counseled businesses and their owners on how to incorporate employee ownership into their business succession plans. He represents closely held businesses and their selling shareholders, ESOP sponsors and ESOP fiduciaries in transactions involving employer securities.
Mr. Chenin works with companies and their owners in the planning, development, implementation and ongoing maintenance of ESOPs. He also advises clients with IRS and Department of Labor examinations and audits, and in the resolution of plan defects, including the submission of plan corrections under both the IRS and Department of Labor correction programs. He holds a J.D. and a B.S. in Accounting from Case Western Reserve University.
Avery M. Chenin