Mark Lomele Honored with The ESOP Association's Life Service Award

WASHINGTON, May 24, 2018 /PRNewswire-USNewswire/ -- Mark Lomele, Executive Vice President and Chief Financial Officer of Recology in San Francisco, was awarded the Life Service Award at The ESOP Association's Annual Conference here on May 23.

The Life Service Award is The ESOP Association's most prestigious accolade, and recognizes an individual who has provided outstanding, long term contributions to The Association and the employee ownership community.

Lomele is one of only 18 people to receive the award in the past 27 years.

"Mark has been a tireless champion of employee ownership," said J. Michael Keeling, President of The ESOP Association. "Few people have the ability to see how to shape the future, and even fewer have the commitment to see that vision through. Mark is that rare person who possesses both, and the employee ownership community is stronger for his long term, devoted efforts."

Lomele's greatest gift to the ESOP community may be his service as Chair of the Employee Ownership Foundation. Under Lomele, the Foundation has expanded its commitment to sponsoring rigorous academic research aimed at helping thought leaders and policy experts understand the quantifiable benefits of employee ownership.

"Thanks to the work of the Employee Ownership Foundation under Mark Lomele, we now know that companies with employee stock ownership are 7.3 times less likely to lay off employees than traditionally owned companies," said Keeling. "Findings such as these provide incontrovertible proof that employee owned businesses benefit employees, business, and our communities, and merit the support of our nation's lawmakers."

Lomele also has been a valued member of The ESOP Association's Board of Directors, where he served for two years as Chair and for six others in various roles on the 10-person board.

He leads all employee ownership activities at Recology and has been on the company's ESOP Administrative Committee since 1991. The company launched its ESOP in 1986 and since 1921 has held the exclusive refuse collection license for the city of San Francisco.

ABOUT THE ESOP ASSOCIATION:

The ESOP Association is America's largest employer-sponsored advocacy and education association focused on employee stock ownership plans (ESOPs). Founded in 1978, the Association seeks to enhance federal laws governing ESOPs, provide members with expert information, and fund research via the Employee Ownership Foundation (an affiliate). The ESOP Association's members include ESOP companies, companies considering an ESOP, and service providers that assist in setting up and maintaining ESOPs.

SOURCE The ESOP Association

Related Links

http://www.esopassociation.org