Latest news with #EmployeeStockOwnershipPlan
Yahoo
20 hours ago
- Business
- Yahoo
Madison Global Becomes 100% Employee-Owned
Company becomes one of the first in the social recognition and groups, meetings and events industries to complete full transition to employee stock ownership plan NEW YORK, June 05, 2025--(BUSINESS WIRE)--Madison Global, a premier provider of social recognition solutions and group meetings and events, proudly announces its transition to a 100% employee-owned company through the successful completion of its Employee Stock Ownership Plan (ESOP). This milestone marks Madison as one of the first in its sector to achieve full employee ownership, reinforcing its commitment to people-first values and long-term sustainability. "For over 50 years, Madison has empowered organizations to inspire, engage, and recognize their employees," said Alex Alaminos, President & CEO of Madison Global. "Today, we're proud to extend that same spirit of recognition inward. Becoming 100% employee-owned is more than a structural change—it's a bold affirmation of our belief that our people are our greatest asset. It aligns our collective success directly with those who drive it every day." An ESOP is a qualified retirement plan that provides employees with beneficial ownership of the company through shares held in a trust. With this transition, all shares of Madison Global are now held by its employees, ensuring that every team member has a direct stake in the company's future. The advantages of employee ownership extend far beyond structure, delivering strategic value that includes: Stronger employee engagement and morale: A shared sense of ownership encourages deeper commitment and accountability. Reduced turnover: Employee-owned companies typically experience greater retention and loyalty. Operational resilience: ESOP companies often demonstrate stronger performance through economic cycles. Financial advantages: ESOPs bring tax efficiencies that enhance cash flow and support reinvestment. Talent attraction and retention: Ownership can be a compelling differentiator in competitive job markets. Madison's ESOP journey began in 2023 as part of a long-term succession and growth strategy focused on preserving independence while amplifying its legacy of innovation and service excellence. "Since founding Madison in 1974, I've always believed that great companies are built by great people," said Werner Haase, Founder and Executive Chairman. "This transition ensures that our team—who have always been the heart of our success—are now also the stewards of our future. It's a proud moment and a natural evolution of our values." As Madison Global enters this new chapter, it remains focused on delivering exceptional client experiences—now powered by the passion, purpose, and partnership of 100% employee ownership. About ESOPs The Employee Stock Ownership Plan (ESOP) is a retirement benefit that enables employees to earn shares of stock in the company where they work. First created in 1974, there are approximately 6,700 ESOP businesses in the United States, employing about 14 million employee-owners. At Madison Global, the ESOP benefit is being provided in addition to other benefits. According to research compiled by the National Center for Employee Ownership (NCEO), ESOP-owned companies tend to outperform comparable firms in their industry and show more resilience in recessions. Employees in firms with an ESOP have 2.2 times as much in retirement savings compared to employees in non-ESOP companies. About Madison As a global leader in Social Recognition and Groups, Meetings & Events, Madison provides enterprise-class organizations with employee recognition, incentives and service anniversary programs designed for the needs of today's ever-changing workforce. Madison's recognition strategy focuses on making managers mentors, reinforcing a sense of belonging, celebrating personal and professional milestones, and emphasizing inclusion and diversity. View source version on Contacts MEDIA CONTACT info@
Business Wire
20 hours ago
- Business
- Business Wire
Madison Global Becomes 100% Employee-Owned
NEW YORK--(BUSINESS WIRE)--Madison Global, a premier provider of social recognition solutions and group meetings and events, proudly announces its transition to a 100% employee-owned company through the successful completion of its Employee Stock Ownership Plan (ESOP). This milestone marks Madison as one of the first in its sector to achieve full employee ownership, reinforcing its commitment to people-first values and long-term sustainability. For 50 years, Madison has empowered organizations to inspire, engage, and recognize their employees, said Alex Alaminos, President & CEO of Madison Global. Today, we're proud to extend that same spirit of recognition inward by becoming 100% employee-owned. 'For over 50 years, Madison has empowered organizations to inspire, engage, and recognize their employees,' said Alex Alaminos, President & CEO of Madison Global. 'Today, we're proud to extend that same spirit of recognition inward. Becoming 100% employee-owned is more than a structural change—it's a bold affirmation of our belief that our people are our greatest asset. It aligns our collective success directly with those who drive it every day.' An ESOP is a qualified retirement plan that provides employees with beneficial ownership of the company through shares held in a trust. With this transition, all shares of Madison Global are now held by its employees, ensuring that every team member has a direct stake in the company's future. The advantages of employee ownership extend far beyond structure, delivering strategic value that includes: Stronger employee engagement and morale: A shared sense of ownership encourages deeper commitment and accountability. Reduced turnover: Employee-owned companies typically experience greater retention and loyalty. Operational resilience: ESOP companies often demonstrate stronger performance through economic cycles. Financial advantages: ESOPs bring tax efficiencies that enhance cash flow and support reinvestment. Talent attraction and retention: Ownership can be a compelling differentiator in competitive job markets. Madison's ESOP journey began in 2023 as part of a long-term succession and growth strategy focused on preserving independence while amplifying its legacy of innovation and service excellence. 'Since founding Madison in 1974, I've always believed that great companies are built by great people,' said Werner Haase, Founder and Executive Chairman. 'This transition ensures that our team—who have always been the heart of our success—are now also the stewards of our future. It's a proud moment and a natural evolution of our values.' As Madison Global enters this new chapter, it remains focused on delivering exceptional client experiences—now powered by the passion, purpose, and partnership of 100% employee ownership. About ESOPs The Employee Stock Ownership Plan (ESOP) is a retirement benefit that enables employees to earn shares of stock in the company where they work. First created in 1974, there are approximately 6,700 ESOP businesses in the United States, employing about 14 million employee-owners. At Madison Global, the ESOP benefit is being provided in addition to other benefits. According to research compiled by the National Center for Employee Ownership (NCEO), ESOP-owned companies tend to outperform comparable firms in their industry and show more resilience in recessions. Employees in firms with an ESOP have 2.2 times as much in retirement savings compared to employees in non-ESOP companies. About Madison As a global leader in Social Recognition and Groups, Meetings & Events, Madison provides enterprise-class organizations with employee recognition, incentives and service anniversary programs designed for the needs of today's ever-changing workforce. Madison's recognition strategy focuses on making managers mentors, reinforcing a sense of belonging, celebrating personal and professional milestones, and emphasizing inclusion and diversity.
Mint
4 days ago
- Business
- Mint
Infosys CEO Salil Parekh gets 22% salary hike, payout now stands at ₹80.62 crore — Check details
India's second-largest IT company, Infosys' Chief Executive Officer (CEO), Salil Parekh, received a 22 per cent salary hike, and his yearly payout now stands at ₹ 80.62 crore for the financial year 2025-26, according to an exchange filing. According to Infosys' annual report for the financial year ended 2024-25, Parekh's revised salary for the 2025-26 fiscal year is at ₹ 80,62,36,456 or more than ₹ 80.62 crore. The data also showed that Infosys granted 3,82,071 or over 3.8 lakh restricted stock units (RSUs) to Salil Parekh along with his monetary compensation. Infosys shares closed 0.55 per cent lower at ₹ 1,554.20 after Monday's trading session, compared to ₹ 1,562.80 at the previous stock market close. The IT firm released its annual report after the stock market operating hours on 2 June 2025. Salil Parekh's salary breakdown data shows that the executive receives ₹ 7.45 crore as a base salary, ₹ 49 lakh in retirement benefits, making the total fixed salary ₹ 7.94 crore. On top of this, Parekh will also receive a bonus incentive, also known as the variable pay of ₹ 23.18 crore, along with ₹ 49.50 crore from the perquisites on account of the stock options exercised. Parekh joined Infosys on 2 January 2018 and has completed a little over seven years in the Indian IT major. The 60-year-old executive has completed a total of 37 years working in corporations all his life. Before joining Infosys as the CEO and Managing Director, Parekh was working with Capgemini as a Director General. Salil Parekh has spent more than 25 years in a global IT services company, according to his LinkedIn profile. Earlier in his life, in 1992, Parekh was a Partner at Ernst & Young (EY) for nearly eight years. On the educational front, the executive has a Bachelor's in Technology in Aeronautical Engineering from IIT Bombay, and later in 1986, he finished his Master's in Computer Science and Mechanical Engineering from the US-based Cornell University. According to Mint's earlier report, Infosys on 17 April 2025 disclosed that the company has granted more than ₹ 50 crore in Employee Stock Ownership Plan (ESOP) to CEO Salil Parekh. Infosys allotted ₹ 51.75 crore worth of stock options to Salil Parekh in multiple tranches.
The Hindu
4 days ago
- Business
- The Hindu
Workers' union launches campaign demanding inclusion, lower-priced shares as Urban Company prepares for IPO
The Gig and Platform Service Workers' Union (GIPSWU), the first women-led platform-based gig workers union in India, has launched a 'Worker Ka IPO' campaign, aiming to mobilise investors, consumers, and workers around Urban Company's upcoming IPO launch. The campaign, which demands 'a more sustainable and less precarious model for UC's growth as a public company,' calls for the inclusion of UC workers in decision-making processes through a Joint Management Council with elected worker representatives. The union has sent an open letter to the company's prospective investors with two key demands - representation and participation in management decisions around working conditions and customer relations, and right to be informed about the company's evaluation and to buy UC's stocks at a discounted price in the future. 'Our requests to you are to involve us workers ('partners') in the decision making around company growth, and to share the company's valuation with us through an Employee Stock Ownership Plan,' reads the letter, which has been signed by around 60 gig workers till date. Demand for inclusion It was in April that the home services marketplace filed its draft red herring prospectus (DRHP) with SEBI for a ₹1,900 crore IPO. Close on the heels of this, GIPSWU is producing a video series to inform the platform-based gig workers about the technicalities of the IPO and what it holds in stock for them. Manju Goel, secretary at GIPSWU HQ, New Delhi, notes that the workers wanted the same thing as investors and customers, which is for the company 'to continue as an employer, platform, and business.' 'Every other customer I service complains about the price going up, and workers are facing so much mental pressure and health issues from the way the company is functioning. We know what is important to keep the customers satisfied and keep the workers from leaving – so we should be included in decisions' says Selvi, GIPSWU Southern Region Vice President. Dolly Devi, GIPSWU Western Region Vice President, adds to it noting that there is no company without the workers. 'If they want to get rich from our labour, then we should be included in that. We invest our time and care into this work, so we should also be investors in the company' she says. Seeking customer support In tandem with the open letter to the investors, GIPSWU will also be organizing a 'DryJune' campaign asking customers to boycott Urban Company in the month of June to show their support. 'Customers can help create pressure on Urban Company to do better by its workers at this crucial pre-IPO launch time,' said a statement issued by GIPSWU. It further noted that gig workers have a stake in the success of the company and are crucial to its long-term growth and well-being,' said a statement. 'Urban Company's growth has come from exploiting gig workers through unattainable standards, low wages, sporadic bookings, sudden ID blocks, and a lack of safety mechanisms, in an environment that does not offer better job options. It does not have to be this way. Including gig workers in decision-making processes could help the company avoid labour exploitation and achieve sustainable growth by better matching business needs with capabilities on the ground,' it read.
Time of India
19-05-2025
- Business
- Time of India
IndusInd Bank signs pact to support early-stage startups
IndusInd Bank on Monday said it has signed a pact with AIC STPINEXT to provide early-stage startups and MSMEs essential financial solutions and structural support. AIC STPINEXT is a special purpose vehicle of Software Technology Parks of India (STPI) under the Ministry of Electronics and Information Technology (MeitY). "Under this collaboration, IndusInd Bank will deliver a range of tailored banking solutions to support early-stage startups associated with STPI/STPINEXT. "The Bank will offer a specialized Current Account product with no quarterly average balance requirement, making it easier for startups to manage their finances," IndusInd Bank said in a regulatory filing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Additionally, the Bank will offer support such as expert guidance, and conduct workshops around financial management including banking basics, equity infusion, Employee Stock Ownership Plan (Esops), segment-based funding etc. To further support operational efficiency, the bank will offer payroll and attendance management services to early-stage startups at no cost. Live Events Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Shares of IndusInd Bank were trading at Rs 782.70, up 0.05 per cent over previous close on BSE.
