EOTs vs ESOPs: What Every Founder Should Know
With a career at the forefront of employee ownership, Chris Michael has helped redefine how companies transition to their next chapter. As founder and managing director of EOT Advisors — the first financial services firm in the U.S. dedicated exclusively to Employee Ownership Trusts (EOTs) — he has guided more than 30 transactions, transferring nearly $750 million in assets to over 3,000 workers.
Michael is widely recognized as the person who introduced the EOT model to the U.S., establishing it as a new financial, tax, and legal pathway for mission-driven owners who want to secure both legacy and employee prosperity. His thought leadership has appeared in leading publications such as Tax Notes and Probate & Property, helping to shape the national conversation around ownership, equity, and wealth-building.
In addition to his advisory work, Michael serves as a professor at Rutgers University, where he directs the Institute for the Study of Employee Ownership and Profit Sharing, furthering research and education in this growing field. His professional affiliations span the American Bar Association, Financial Planning Association, National Center for Employee Ownership, and more — reflecting the breadth of expertise he brings across law, finance, and economics.
At the heart of Michael’s work is a conviction that employee ownership isn’t just a transaction — it’s a movement. By designing structures that keep companies independent, resilient, and worker-centered, he is proving that succession planning can be both financially sound and socially transformative.
To explore Michael’s work and the future of Employee Ownership Trusts, visit eotadvisors.com or connect with him on LinkedIn.
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At Ethical Exits, we champion profit-for-purpose capitalism—leveraging business as a force for scaling philanthropy and meaningful change.
In each episode, we ask guests to highlight a cause close to their heart. For Chris, that cause is employee ownership itself—ensuring businesses can be transitioned into structures that protect mission and values for generations of workers.
Instead of pointing to one organization, Chris encourages listeners to think about supporting the broader employee ownership movement—whether through philanthropic dollars directed to groups advancing this work, or by exploring how their own businesses might transition into an Employee Ownership Trust or Perpetual Purpose Trust.