Corporate Eagle, a 42-year corporation and provider of membership-based fractional and managed business aviation programmes in southeast Michigan, has transitioned to a 100 per cent employee-owned company by establishing an Employee Stock Ownership Plan (ESOP). This purpose-driven ownership model will support the company’s growth strategies, while creating long-term sustainability and continuing investment in its team members.

“After decades of success in the business aviation industry and forging meaningful relationships and business partners across southeast Michigan, I am personally incredibly proud with this ownership transition to our long-term leadership team members and a very sophisticated group of employees, for which the guardianship of our company will be especially important,” says founder, chairman and CEO Rick Nini. “I will not personally participate in the ESOP; however, I will remain chairman and CEO as I transition to retirement over the next four years. This decision will positively impact our employees, their families and our membership for years to come.”

Three years of research, planning and execution went into ensuring a seamless transition. All eligible employees will be credited with shares of stock within the ESOP trust each year as they directly benefit as stakeholders from the company’s growth and success.

“We have many long-tenured team members dedicated to creating an exemplary experience for our membership, and their dedication is now becoming a well-deserved personal stake in Corporate Eagle,” says president and COO Matt Brennan. “Our team members have learned about their new ‘owner’ title, and the response has been exceptional. This is exactly the right move for the future of Corporate Eagle, and I look forward to leading our continued growth with this incredible team.”

According to the National Center for Employee Ownership, there are approximately 6,600 ESOPs in the US. The state of Michigan has just over 200 ESOP companies, only a small percentage of which are 100 per cent employee-owned.

Since 1982, Corporate Eagle has grown to serve nearly 100 southeast Michigan members in fractional and managed business aviation programmes. Its campus includes 57,000sq ft of hangar space, more than 9,000sq ft on two stories of business and member VIP facilities, over 8,000sq ft of support facility, 40,000 gallons of jet fuel storage and 85,000sq ft of high load capacity concrete tarmac. Corporate Eagle manages a modern fleet of 17 aircraft consisting of Falcon 2000s and Hawker 900XPs.