In a typical EO sale, operations hardly changes at all as a result of the transaction process itself. It is best practice to educate new employee owners about the EO structure so that there is no false sense of entitlement (particularly in ESOP and EOT transitions), but still foster a greater sense of shared-ownership. It is likely that over time operations will change for the better as a true "ownership culture" develops in the company, i.e., employees come to think like owners and take on additional responsibilities, or see things like everyday expenses in new ways, particularly with practices like Open Book Management. It's also important to note that having a tangible leadership succession plan will ensure continued operations.
Governance practices from the EO structure will influence the process for making bigger decisions like a subsequent sale or major shifts in direction.