Association members share the common goal of promoting broad-based employee ownership in Canadian companies. When employees have “skin-in-the-game” and apply “ownership thinking”, the proven results are higher profitability and workplace satisfaction. The association provides expertise that advocates and educates on behalf of its members and stakeholders.

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Employee Ownership Canada (EOC) announces Michael Ras as Chief Executive Officer

Please join us in welcoming Michael to EOC!

Toronto (ON) – January 20, 2025 – Tiara Letourneau, Chair of the Board of Directors of Employee Ownership Canada, is pleased to announce that after an extensive nationwide search, the Board has endorsed the appointment of Michael Ras as Chief Executive Officer.

Employee Ownership Canada (EOC) is the leading advocate for broad-based employee ownership in Canada, representing a rapidly growing sector of employee-owned businesses and service providers.

“We’re thrilled to welcome Michael to build the organization through its next generation of growth as we consolidate the gains we’ve made over the past few years, particularly with the passage of landmark Employee Ownership Trust federal legislation,” said Ms. Letourneau.

“I have long been a champion of the employee-ownership model, because Canadians deserve the opportunity to earn more than just a salary for their hard work,” said Mr. Ras.

“When employees have ‘skin in the game,’the proven results are higher profitability, bigger paycheques and better pensions. That’s the message I’ll be taking across Canada.”

According to the Canadian Federation of Independent Business, 76 per cent of Canada’s business owners plan to exit their business within the next decade. Yet, only one in 10 business owners have a formal succession plan in place. Transitioning to employee ownership is an exciting option for these businesses.

“In today’s fraught political and social climate, it’s exciting to champion policy that is supported by members of all parties and that extends the benefits of ownership and wealth creation to more Canadian workers,” said Ras.

For further information
Michael Ras – 647-228-2339
michael.ras@employee-ownership.ca
www.employee-ownership.ca

About Employee Ownership Canada

Employee Ownership Canada (EOC) is a national member-driven nonprofit association dedicated to increasing employee ownership in Canada. In 2024, the Employee Share Ownership Plan Association Canada and the Canadian Employee Ownership Coalition merged to create EOC with the mandate to aggressively promote the employee ownership sector across the country.

Studies show that when a high percentage of companies are owned by their workers, it leads to improved economic performance, increased resilience and better, higher-paying local jobs. Led by CEO Michael Ras, EOC creates awareness campaigns and delivers educational material across all mediums to increase knowledge of employee ownership across the country. It also advocates for policy change at all levels of government to encourage more adoption of employee ownership in the private sector.
To learn more, please follow us on LinkedIn or visit www.esopcanada.ca and www.employee-ownership.ca.

Michael Ras Biography:

Michael Ras has spent his career at the intersection of business, politics and public policy.

Most recently, Michael was Senior Vice President and Ontario Government Relations Practice Leader with Counsel Public Affairs, a leading national public affairs consultancy. Before joining Counsel Public Affairs, Michael led government relations efforts for Meridian Credit Union, one of Canada’s leading co-operative financial institutions, where his lobbying efforts resulted in a modernized regulatory regime that allows Ontario credit unions to expand into entirely new lines of business.

In his community, Michael serves on the Board of Governors of Wilfrid Laurier University and as a Board volunteer for Career Edge, a non-profit social enterprise that provides recent graduates and new Canadians with employment opportunities through internship work placements. He also chaired the Ontario Justices of the Peace Appointments Advisory Committee (JPAAC), which qualifies candidates to become judicial officers in Ontario and provided advice on appointments directly to the Ontario Attorney General.

The ESOP Association of Canada has changed its name to

EMPLOYEE OWNERSHIP CanadA.

The name has been changed to be more inclusive and align more clearly with our mission:

We support and advocate for all forms of Employee Ownership.

This is particularly important as we welcome a new form of Employee Ownership to Canada in 2024: EOTs, or Employee Ownership Trusts.

Short Video: English

Écoutez la vidéo expliquant le changement du nom:
Courte vidéo: Français

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Employee Ownership (EO) has many forms (employee ownership trusts, share ownership plans, stock option plans, phantom plans, employee co-operatives, etc.) and is used in a diverse range of businesses to boost attraction, retention, engagement and provide owners with a flexible succession plan.

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