Pennoni Perspective Volume 23 • Issue 1 • Spring 2019 - Page 7

Pennoni proudly transitions to full ownership by Employee Stock Ownership Plan After more than 50 years of providing professional design, consulting and surveying services, Pennoni is fully owned by its Employee Stock Ownership Plan (“ESOP”) Trust. An ESOP is an employee retirement plan that provides ownership to employees. Although Pennoni has been 100% employee-owned since its founding in 1966 by Celestino ‘Chuck’ Pennoni, the firm first established its ESOP in 1994. Over the years, the ESOP has increased its ownership share and on December 7, 2018 it became Pennoni’s sole shareholder. TM This move demonstrates Pennoni’s commitment to our most important asset, our people, by rewarding them for their passion and dedication. At Pennoni, we pride ourselves on the core values of honesty, integrity, and service, and fostering this environment has always been a priority. Mr. Pennoni states, “I’ve always believed that a professional services firm should be owned by its employees. As a 100% employee-owned firm, our reputation, growth and dedication to our colleagues, clients, and community continue to be our primary focus.” This ownership milestone reiterates Pennoni’s commitment to the value we place on delivering exceptional service to our clients. Pennoni will continue to operate under the same business model and management structure. With 35 offices and our work expanding globally, Pennoni is one of the most recognized and respected engineering firms in the design industry. Employee Awards Al Garcia, Senior Structural Engineer Al was named Dalton E. Hamilton Memorial Certified Welding Inspector of the Year for the New England section of the American Welding Society (AWS) Project Awards Vine Expressway (I-676) • ACEC/PA Diamond Award in structural systems category US Route 15 Smart Traffic System • ACEC/PA Diamond Award in small project category Educational Testing System Wastewater Treatment Plant Upgrade • ACEC/NJ Distinguished Award •  Distinguished Engineering Award from the New Jersey Alliance for Action ESL 10,000 Ton Cooling Tower Project • ACEC/Delaware 2019 Conceptor Award in the $5M and over category West Deptford Amazon • PSPE Outstanding Engineering Achievement Winter Haven South Central Park •  Florida Engineering Society Ridge Chapter Project of the Year Clearwater-Largo Road District Improvements • APWA WCB Project of the Year Award PENNONI | 7