Preparing to Lead in an Employee-Owned Company: Lessons from My Time at Darden

The Opportunity to Prepare

Last year, I had the opportunity to step away from the day-to-day operation of our business and invest in preparation for what comes next. Since the start of 2025, I served as Chief Operating Officer (COO) while preparing to succeed our current CEO, Keith Flaherty, who retired in June of 2026 after 25 years as CEO, and many more years with Hallam-ICS overall. During this time as COO, I attended a course called Leading in an Ownership Setting, which is an executive education program at the University of Virginia’s Darden School of Business. This program was created specifically for CEOs, and their designated successors, of employee-owned companies (ESOP’s).

The program took place over two fully immersive weeks, one in July and one in December – and was designed in partnership with The Employee Ownership Foundation. I was part of a cohort of 16 leaders of employee-owned organizations from across the country, from many different industries, and ranging in size from 50 to over 1,400 employee-owners.

The Case Study Method

The Darden School is known for using the case study method involving advance reading and interactive discussion in a small group environment. As a student, I benefited from the diversity and perspective of my fellow classmates as well as the instructors.

The method consists of:

• Advance reading of materials to identify problems, consider alternatives, analyze data, and develop a recommended course of action.
• Classroom discussions focused on understanding facts, evaluating alternatives, and determining what actions should be taken.
• Active participation, including presenting viewpoints, defending decisions, and considering diverse perspectives.
• Developing proficiency in recognizing opportunities, making critical decisions, and responding to real-time business challenges.

Why Leadership Looks Different in Employee-Owned Companies

Employee ownership fundamentally changes the leadership equation. Decisions are no longer abstract or distant; they directly affect colleagues, and former colleagues, who are also fellow owners. Growth strategies, capital allocation, succession planning, and culture all take on added significance because they impact not only performance, but people’s livelihoods and long-term wealth.

Four Dimensions of Leadership

The program was structured around four integrated modules that mirror the real demands of the CEO role.

First, we focused on leading self. Before you can effectively lead others, you need self-awareness of your own leadership style, decision-making tendencies, and blind spots. Through peer and colleague feedback, coaching, and self-reflection, the program pushed each of us to better understand how we show up under pressure, and how that presence can shape an organization.

Next came leading others, with a particular emphasis on high-performing leadership teams. We explored how CEOs build trust within leadership, bring out the best in others, manage conflict productively, and align diverse perspectives around a shared vision and culture.

The third module addressed leading an ESOP organization for growth. Topics included ESOP fundamentals such as governance, valuation, repurchase obligations; mergers and acquisitions, risk management, and critical decision making. Real world case studies were used to frame the discussion around the types of scenarios likely to be faced by ESOP leaders.

Finally, we examined leading strategy and innovation. Growth and innovation are not at odds with employee ownership, but they require discipline and clarity. We spent time discussing AI and the disruptive innovation it represents to seemingly every aspect of business. We also discussed other recent disruptive innovations such as the vacation rental industry and what it is like to lead and prosper during such periods of innovation rather than being left behind.

The Power of Peer Learning

One of the most valuable aspects of the program for me was the peer network I developed during my time there. The cohort included CEOs and successors from a wide range of industries and from all different parts of the country. Each company represented was employee owned. The diversity of perspectives and experiences provided valuable insight and alternative viewpoints that would be difficult to obtain otherwise.

Our discussions were candid both inside and outside the classroom. We talked openly about succession challenges, business outlook, culture, best practices, leadership transitions, growth pressures, and many other topics. The discussions have continued since we parted ways as well. Our group still meets virtually approximately every month to check in and discuss issues that we are facing. We often also reach out between meetings as well with more pressing questions or concerns as they arise. Having my Darden peer group as a resource is something I value greatly and expect to take full advantage of as I embark on my leadership journey at Hallam-ICS.

For me, this experience was not just about personal development. It was about stewardship. Employee ownership is a long-term commitment that extends beyond any one leader. Preparing to step into the CEO role means understanding not only how to lead and grow the business, but how to protect and strengthen an ownership culture that aligns performance with shared success.

During this course, I was provided with the space to think strategically, challenge assumptions, and learn from others who have already made this transition and continue to face its ongoing challenges.

Looking Ahead

As I start my journey of stewardship as CEO of Hallam-ICS, I am grateful for the investment Hallam-ICS made in me by providing me with this training opportunity and for the perspective it provided. The experience has made me more confident, more grounded, and more committed to leading in a way that provides for growth while maintaining our strong culture of ownership that is at the core of who we are. 

About the author

Vin Calio is President and CEO of Hallam-ICS. With more than 30 years of experience in heavy civil construction, process controls, and industrial automation, he is passionate about leadership development, employee ownership, and building organizations that create long-term value for clients and employee-owners alike.  

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About Hallam-ICS

Hallam-ICS is an engineering and automation company that designs MEP systems for facilities and plants, engineers control and automation solutions, and ensures safety and regulatory compliance through arc flash studies, commissioning, and validation. Our offices are located in Massachusetts, Connecticut, New York, Vermont, North Carolina, and Texas, and our projects take us world-wide.