“What is an ESOP and can it be a good succession planning tool?”
Speaker: Frieda S. Takaki, chair of the Employee Ownership Foundation, and president/CEO of CHART Rehabilitation of Hawaii, Inc.
About the speaker:
Frieda S. Takaki is the CEO of CHART Rehabilitation of Hawaii, a multi-disciplinary outpatient physical rehabilitation clinic and is one of the most innovative and comprehensive orthopedic rehabilitation centers in the country. CHART pioneered the active rehab concept in the state of Hawaii in 1979 specializing in work injury and auto accident patients. Frieda has been with CHART since 1983 and was promoted to President and CEO in 1989.
In 2001, CHART Rehabilitation of Hawaii purchased the company through a unique transaction called an Employee Stock Ownership Plan (ESOP). This action effectively made the employees “owners” of the company. It is this ownership mentality that makes CHART a real `ohana, resulting in the highest commitment to quality therapy and customer service.
Frieda is active in the Hawaii Chapter of The ESOP Association has served on the Executive Committee’s State & Regional Chapter Council. From 2007 – 2009, Frieda served as Chair of The ESOP Association, the national organization. On May 1, 2011, she took over the as Chair of the Employee Ownership Foundation.
Frieda is also an oxtail soup champion. In a taste-off fielded by three finalists – Kapiolani Coffee Shop, Columbia Inn Kapiolani and home cook Takaki, Kapiolani Coffee Shop edged out Frieda by 0.045 of a point for the title of best oxtail soup maker in Hawaii.