FMS, Inc. Announces Transition to A 100% Employee Ownership (ESOP) Company
FMS Empowers its Clients Through Services and now Empowers its Employees for the Company's Future Success
Baltimore, MD (PRWEB) June 1, 2009 - FMS, Inc (www.FMSSolutions.com) announced today the transition from a partial Employee Stock Option Plan (ESOP) company to a 100% employee-owned company effective Wednesday, May 27, 2009. FMS was founded by John Schock in 1974 with the singular focus of helping the independent retail grocer through the application of both service and technology in the fields of accounting, decision support, benchmarking and industry best practices.
The decision by FMS for the transition to a 100% employee-owned company accomplishes two primary goals. First, the new structure provides a clear succession path for the company to move forward. Second, the new structure also provides overwhelming incentives for FMS employees to continually serve its clients in an industry leading manner.
This transition will affect the organizational structure of FMS as the new Board of Directors will be comprised of two FMS Executives and three external Board members. Robert Graybill has been appointed President and to the Board of Directors and will be responsible for the day-to-day business operations and direction of the executive team. John Schock will continue in his role as Chairman of the Board and CEO.
The new President, Robert Graybill commented on the transition, "We are excited to announce this organizational change for multiple reasons. The first reason is that our employees are now vested, more than ever, not only in the future of FMS but also in the success of our clients. Secondly, this transition has provided a clear succession path for FMS management and a unique opportunity for John to move the company to the second generation of leadership and management."
Vice President of Client Support, Jon Cline stated, "We are very pleased this transaction allows John to move forward with his succession planning vision in a manner which closely aligns the financial success of our clients, our organization, and our associates."
About FMS, Inc: Headquartered in Baltimore, Maryland, FMS, Inc. provides approximately 1,800 independent retail grocer and independent supermarket operations with financial, accounting and consulting services such as industry benchmarking, best practices and mission-critical decision support throughout the United States and in the Caribbean.
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