Having been in the same family ownership for over 100 years, EC Group today (1st September 2023) announced the sale of the business to The EC Group Employee Ownership Trustee Limited, giving employees 100% beneficial ownership of the company.
This exciting transition enhances the company’s long-term security and preserves all that is good about it, immediately and into the future. It will ensure that the employees – the people who make a real difference in a service business – will always have a say in any future major decisions and a greater opportunity to share in the company’s success.
The day-to-day operations are unaffected with Gavin Weekes and Nick Mackley remaining in post as COO and CFO respectively. Chris Long retires as Executive Chairman of the business and becomes a director of The EC Group Employee Ownership Trustee Limited (EOT).
Commenting on the change Chris Long said, “Letting go of the business has obviously been a big decision for me but I am sure that the EOT route is the right one. Everything we do in the business relies on working together and, with this strong sense of collaboration and teamwork, it’s entirely appropriate that everyone has a stake in the business. The decision has been made easier in the knowledge that, headed up by Gavin and Nick, I know we have a strong management team in place, so I’m confident that the business remains in safe hands.”
On behalf of the leadership team Gavin Weekes commented: “We’re very excited about the move to an EOT. It’s a progressive and dynamic ownership model and puts the business in a great position for the future. The people that help make the company what it is will now have an opportunity for greater participation and will continue to drive the business forward with even greater energy and enthusiasm.”
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