On Friday 21st December, we signed papers to set up a new Employee Ownership Trust (EOT), which now owns 100% of our shares.
The EOT will hold the shares for the benefit of all our employees and, as Radix’s sole owner, gives our team a powerful say in the company’s strategic direction. It can also pay staff bonuses based on profits.
Our directors Sophie Reynolds and David McGuire will stay responsible for running the business day to day.
Sophie said: “As Radix continued to grow, it became obvious that our hardworking people deserved to benefit more directly from their success. We’re one team, and this new structure feels like a good reflection of that. Now we’re ready for the next step of the journey.”
Sophie and David will be joined on the board of the new trustee company by two elected employees, Nick Prescott and Ben Clarke. SouthWestFD regional director and long-time Radix advisor Jeremy Kirk completes the board.
Employee trustee director Ben Clarke said: “We’ve always known that Radix values our perspectives as employees, but with the creation of the trust, it really feels like we have an even greater stake in the company’s direction and success. Nick and I are excited to be representing the rest of the team.”
Radix would like to thank Murrell Associates for their advice, good humour, and sheer stamina in preparing all the many documents we needed. Lang Bennetts also advised on the deal.
If you’re interested in joining a company like this, we’d be delighted to hear from you. Take a look at our careers page.
