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Freeland Rees Roberts Becomes Employee Owned

Thursday 11th October 2018 was EO day for FRR!

After more than three years of planning, the three share-holding directors of Freeland Rees Roberts Ltd: Henry Freeland, Graham Riley and Jeremy Lander signed the final papers transferring 100% of the ownership from them to a new Employee Ownership Trust that will ensure the company is managed in the interest of all its employees.  The day-to-day management of the company will essentially remain unchanged for now, but the intention is for employees to become more involved in decision-making. Any profit made by the company will be held in trust for the employees. The Employee Ownership Trust model is similar to that of the John Lewis Partnership and is becoming more and more popular, especially among creative professionals where the ethos of employee ownership is increasingly seen as a ‘good fit’.  We hope that the new structure will not only allow greater staff involvement and sharing of profits but will also generate a new feeling of common enterprise. This has been seen to happen in many EO companies across the UK and the Employee Ownership Association, to which most EO companies belong, is an ever-growing community of like-minded businesses who are also keen to work with each other.

We are extremely proud of our team at FRR whose commitment and hard work encouraged us to believe that this new venture would be possible in the first place.  25 City Road has always been a highly enjoyable and creative environment in which to work and we now very excited at the prospect of seeing FRR build on these strengths in the coming years.

Deb Oxley, CEO of the Employee Ownership Association, said:  “We congratulate Freeland Rees Roberts on its transition to employee ownership. By widening ownership of the business to its employees Freeland Rees Roberts is securing the future of the business, including its ethos, values and employees, while rooting itself locally for the longer term to the benefit of the communities it serves.”

 

 

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