Marco’s ESOP Club Forms Sub Clubs

Although Marco Crane & Rigging Co., Phoenix, Ariz., became employee owned in 2006, the Employee Stock Ownership Plan (ESOP) has just recently begun to establish its sea legs within the company.

One of the biggest obstacles during this transition time has been changing the culture of the company. To help employees understand what ESOP means to them, Marco Crane created at nine person ESOP club. “Each year three old members rotate off and three new members join the ESOP club,” said Stacy Carroll, vice chairman of the ESOP club and dispatch administrator for the company. The next rotation will be in November.

In addition two sub clubs for education and charity have been formed. “We’re trying to get more people involved in understanding the ESOP process,” she said.

“I am proud of the people that work at Marco. To keep them, I want to reward them. I also want to get new employees who are smart, ambitious, and want to take care of their families,” said Dan Mardian, president of Marco Crane and Rigging. “That is what the ESOP is going to do.”