(CANCELED) Chicago | Board Governance in an ESOP Company

Please don't forget to ADD this event to your CALENDAR!
Wednesday, March 11, 2020
05:00 PM - 07:30 PM CST
Bank of America
135 S LaSalle Street, 43rd Floor
Chicago, IL 60603

The Chicago Chapter program, Board Governance in an ESOP Company, scheduled for this evening, Wednesday, March 11th, beginning at 5:00 pm, has been canceled.


We are cancelling because our host, Bank of America, learned late this afternoon that their offices were closing to outside visitors due to the current environment. 


While the event is canceled for this evening, we do intend to reschedule the program for a later date. As soon as we know that future date, we will share with all registrants.




Please join the Private Directors Association in Chicago for an evening program on Wednesday, March 11th, at Bank of America where a panel will discuss Board Governance in an ESOP Company and how board member responsibilities of an ESOP company differ from a non-ESOP company.





Kenneth Serwinski
Prairie Capital Advisors

Kenneth Serwinski co-founded Prairie in 1996 after recognizing a need for objective financial advisory consultation for closely-held businesses. Currently, he serves as Chairman of Prairie’s Board of Directors and is a shareholder in the firm. Ken has dedicated his experience to providing closely-held companies with the guidance and expertise needed for some of their most critical business decisions. As a lifelong educator and respected industry expert, Ken is widely published in a variety of formats and is a frequent speaker around the nation. Notably, he co-authored Making Sense of Your New ESOP: A Leader’s Guide. Whether sitting across the table from clients or speaking at workshops and seminars, he strives to ensure business owners have the complete, accurate information they need for confident decision-making. Ken sits on the Board of Directors of three companies – a service provider to the life sciences industry, a healthcare solutions provider and a billion-dollar bank.


Mike Franz
Chief Financial Officer

Mike has been the CFO for Novaspect Holdings, Inc. since 2001. Novaspect is an Impact Partner for Emerson Process Management enabling manufacturers to integrate advance industrial technologies and updated process best practices to achieve top quartile performance. Under his leadership, Novaspect has transformed and evolved growing sales over 400% by strategically investing in new services and driving operational efficiency and effectiveness. Mike has been instrumental is creating Novaspect’s digital transformation through implementing state of the art business systems as well as investing in IT infrastructure to support the increased need for data transmission and customer service requirements. In 2016, Mike implemented an Employee Stock Ownership Plan including the company valuation, plan design and external financing resulting in an incremental benefit to all employees. Mike is on the Board of Directors for ComGraphics, Inc. in Chicago, IL and FCL, Builders, Inc. in Itasca, IL also ESOP companies.


Kyle Spader
Acumen Advisory Services

Kyle Spader has spent the past four years working at Acumen Advisory Services providing external trustee services for approximately 80 clients.  Mr. Spader provides transactional support for both buy and sell side ESOP engagements and assists with ongoing client relationships.

Kyle has a CPA, CMA, CVA and tax background and has served in both CFO and Division President roles with a large 100% ESOP.   He is a frequent speaker in forums around the country for both the ESOP Association and National Center for Employee Ownership on topics including Board Governance, Acquisitions in ESOP companies and various ESOP Topics from a Trustee’s perspective.

Kyle has experience as both an internal and external ESOP Board member, internal and external trustee, executive leadership of an ESOP company and practical business experience as a P & L manager. Kyle serves on the Board of Directors for Owners Edge and Bukacek Construction Group.


Betsy Goltermann
KI Industries, Inc.

Betsy Goltermann is a senior executive whose background includes positions of CFO, CPA and Director for a family founded manufacturing enterprise,  KI Industries, Inc.   With over three decades of experience,  she’s operated alongside other family members to grow KI to $100M in revenue.    Betsy was a 2nd generation owner and member of the leadership team that navigated the company’s expansion in decorated plastic and metal component markets.  During her tenure,  the company acquired a competitor,  expanded in the appliance, plumbing and automotive end markets,  started three greenfield plant operations,  grew the customer base to include Mexican domestic and export markets and developed a sophisticated manufacturing supply base in Taiwan and China. 

She was also part of the team that reviewed ownership alternatives and transitioned KI to 100% ESOP ownership in 2012.   She helped lead decisions relating to the ESOP plan design,  the sale transaction and the ESOP’s ongoing administration.  She is a KI board member,  chairs the audit committee and sits on the compensation committee.  She began her career at Deloitte, is a graduate of Northwestern University and has an MBA from the University of Chicago Booth School of Business.



Steven Ryan
Prairie Capital Advisors

Steve Ryan joined Prairie Capital Advisors in 2018. He specializes in new business development initiatives for Prairie. He has over 25 years of new business and banking experience with clients throughout the country. Steve has led commercial banking teams that interact with business owners and C-level executives of private and public companies. Throughout his career, he has acted as a trusted advisor to many privately-held companies to assist them in growth initiatives, business transitions and liquidity events. Steve frequently presents on a variety of topics including ownership transition alternatives, financing ESOPs and capital allocation in a wide variety of venues, such as the National Center for Employee Ownership, The ESOP Association as well as Prairie webinars.