In this episode of the Finish Big Podcast, host Mark Dorman welcomes back Corey Rosen, founder of the National Center for Employee Ownership (NCEO), for Part 2 of their conversation on alternative ownership structures—specifically, the Employee Ownership Trust (EOT).

Following their earlier discussion on Employee Stock Ownership Plans (ESOPs), Mark and Corey explore how EOTs differ, their origins, and why some business owners may choose them over ESOPs. They cover the practical, cultural, and philosophical factors driving this emerging succession strategy in the U.S.

Mark and Corey discuss:

• EOT Origins & Growth: How the model evolved in the UK (inspired by the John Lewis Partnership) and its rapid adoption overseas.

• Key Differences from ESOPs: Costs, complexity, tax implications, and the flexibility to set custom rules for ownership and profit distribution.

• Ideal Candidates: Why smaller companies (often under 50 employees) and owners committed to long-term independence may benefit most.

• Purpose Trusts: How some companies, like Patagonia, use ownership trusts for social and environmental missions.

• Succession Planning Considerations: When an EOT makes sense versus a management buyout, phantom stock, or other equity models.

• NCEO’s Role: Resources, research, and networking opportunities for companies exploring employee ownership.

Connect with Mark Dorman:

• Succession Plus US

• LinkedIn: Mark Dorman

• LinkedIn: Succession Plus

• Facebook: Succession Plus

• (330)-416-9271

• mdorman@succession.plus

Corey Rosen is the founder of the National Center for Employee Ownership (NCEO). A former Capitol Hill staffer and political science professor, Corey helped draft early ESOP legislation in the 1970s and has since authored numerous books and research papers on employee ownership. Today, he leads NCEO’s mission to educate and support businesses considering employee ownership as a sustainable, wealth-building alternative to traditional exits.