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.
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.
ABOUT PENNONI:
As a multidisciplinary consulting engineering firm founded more than five decades ago, Pennoni approaches engineering challenges from a wider spectrum of angles than most, from land development to energy management. Our goal is to help communities and private sector clients alike navigate the ever-changing technological advancements available and learn how best to integrate “smart” solutions into the current landscape and make them a part of resilient and sustainable planning. Our combination of talent and experience generates unprecedented results for diverse and iconic projects around the globe.