CORONA, Calif., Jan. 7, 2022 /PRNewswire-PRWeb/ -- Vantage LED, an LED display company out of Corona, California announced earlier this week the completion of a 100% Employee Stock Ownership Plan (ESOP), followed up by an official hand-off from the current CEO, Chris Ma, to his hand picked replacement Yuusuke Arimura.
"These changes will serve to usher in the next phase of growth for us," explained Mr. Ma, "We are setting the stage for expansion in many ways like acquiring other great companies, hiring new talent to join the family and of course our new CEO and ESOP. Without the dedicated people at Vantage, we couldn't make this happen and I couldn't be more proud."
Vantage LED joins a unique group of forward thinking ESOP companies accounting for only 1% of businesses in the US, or just under 7,000 total. In an ESOP all employees become stakeholders, aligning their hard work and rewards directly to the success of the company, providing safety and stability for everyone. According to Josie Salitrero, National Sales Manager, it's all about success as a team.
"We are a very team oriented company, department separation is minimal, and everyone is ready to take ownership wherever it's needed," she said, "The ESOP really helps focus that energy even more, and we're excited to bring it into 2022 and beyond!"
The timing of the move is both impressive and smart, considering the significant impact COVID-19 had on the working economy in general. Employee programs like an ESOP help attract more talent looking for stability and value in their work. It also helps the new CEO and management teams maintain ownership of company wide decisions, incentivizing more growth, new products, and a great experience for customers and employees.
"We partnered with the great people at Ambrose Advisers, RPB CPA, and American Business Bank to make sure we did this right," explained Ivan Perez, HR Director, "Our Employee Stock Ownership Plan will function as an additional retirement benefit along with our 401(k) and, like most ESOP organizations, it will be funded entirely by the company, not employee contributions. This means everyone receives the benefits of the program, regardless of their role in the company."
Vantage LED started in 2003, with the mindset of building a better product and experience in the evolving market of LED displays. After years of development and steady growth in the OEM marketplace, they expanded into the general wholesale market in 2010. Continually developing its team of industry professionals, Vantage has aggressively grown in the market over the past 11 years, taking on the big players with fearless innovation and redefining key factors in the market.
"I love being part of a company that pushes boundaries," said Kyle Carnes, CIO for Vantage LED, "We pioneered offerings like cloud based display management, nationwide emergency alerts integration with FEMA and IPAWS, built in professional content services, an amazing warranty and many other revolutionary features that continue to significantly impact the market today."
According to Mr. Ma, this culture of innovation and generosity is the foundation that the new leaders will build on step by step, much like Mr. Arimura's own journey through the company.
"Yuusuke Arimura started at the company as a software engineer in 2003 then stepped up to head the R&D Department when the opportunity arose," explained Mr. Ma, "He then filled the role of Chief Operations Officer for the past 5 years. Now, he has earned the position of the Chief Executive Officer."
Mr. Ma will be staying on as Chairman to help facilitate the transition and assist with any needs, while Mr. Arimura and his management team will manage the direction and day to day operations of the company moving forward.
"I am excited for the opportunity to grow the company through quality products and with a great team backing me up," explained Mr. Arimura, "We'll continue to thrive by building on the amazing culture inspired by Chris [Ma] and enhancing it with even more collaboration, feedback and ownership of the work required to succeed."
Ricky Chai, Production Manager for Vantage LED explained that Mr. Arimura has been the backbone of the engineering side of Vantage LED for close to 18 years. His servant leadership style and extensive knowledge have affected every aspect of the company from initial design, to production and support.
"He's had a hand in virtually every signature project we've produced, like the re-engineered LED sphere at Ocean Resort Casino in Atlantic City, or the giant multi-city video boards we produced and set up in Brazil for the FIFA FanFest. His hard work and vision has earned him the absolute trust and loyalty from our entire production crew and Vantage family."
According to Mr. Arimura, the ESOP and leadership changes are just the beginning.
"Change isn't always easy, but absolutely necessary to evolve and grow the company. We've got a lot of great things in store for the future; the ESOP and leadership structure are just the beginning!" he explained, "Our ultimate goal has always been the success of our amazing dealers, display owners, and our own people and their families. I'm committed to continuing our journey together, and look forward to the work ahead as we enter new markets, with more features, improvements and a great experience."
Media Contact
Ivan Perez, Vantage LED, 1 888-595-3956, [email protected]
SOURCE Vantage LED
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