IRVINE, Calif., Sept. 30, 2019 /PRNewswire/ -- International Education Corporation (IEC) and its subsidiary companies are proud to announce they are in the process of becoming employee-owned by creating an Employee Stock Ownership Plan (ESOP).
As a premier provider of postsecondary career education, International Education Corporation has made student success its top priority. This announcement marks the next step for the organization to align student success with the success of its employees.
"Becoming an employee-owned organization gives us another reason to be genuinely and authentically obsessed with student success," states Dr. Fardad Fateri, President and Chief Executive Officer of International Education Corporation. "The employees in our organizations are our most valuable and important asset; we want to reward them for their passion for our students and their many achievements. We believe by providing ownership in IEC and investing in their future, our employees will be even more motivated to act as true owners. We also know ownership will provide our employees a more rewarding professional life."
IEC's Employee Stock Ownership Trust was formed to hold one-third of IEC's shares on behalf of employees of IEC and its subsidiaries. The shares will be managed by a trustee and an ESOP Committee. Employees who meet the program's qualifications will receive stock in International Education Corporation.
Employee ownership will promote collaboration, shared responsibility and leadership for quality and continuous excellence in student outcomes as well as continued expansion of International Education Corporation and its subsidiaries.
Fateri said, "Many organizations talk about their employees being their most valuable asset; at IEC, we treat our colleagues as our most valuable assets by actually investing in them and their future."
About International Education Corporation:
Headquartered in Irvine, California, International Education Corporation and its subsidiary organizations are premier national providers of postsecondary career education offering top-quality programs in high-demand verticals such as healthcare, trades, business, technology, and criminal justice. IEC's subsidiaries provide hands on career training at their UEI College, United Education Institute, Florida Career College and U.S. Colleges campuses located across the United States.