The EOA welcomes Riverford’s transition to employee ownership which was announced on BBC Breakfast today (8 June 2018).
With 74% of the business being held in an Employee Ownership Trust, 650 employees will now have a voice and stake in the outcome of the business.
Founder of Riverford Guy Singh-Watson, who will retain 26% of the business, began Riverford Organic Farmers when he started delivering vegetables to 30 friends in Devon. Now with more regional farms, they deliver 47,000 boxes of veg a week to homes around the UK.
On announcing that they were due to become employee owned Guy Singh-Watson said: “We believe employee ownership offers a positive model for a values-driven business to secure its values and its commercial success, for the long-term benefit of all.
On the BBC he added: “I think they are the best people to run the business and I think that this will make us more innovative and competitive.”
An employee from Riverford called Jen added: “It’s really exciting. It gives a structure and allows us as employees to have a voice and a say in how we might do things better.”
Deb Oxley, CEO of the Employee Ownership Association, said: “We welcome the news that Riverford has transitioned to employee ownership which will root the business in the communities that it serves for the longer term and offers a sustainable succession plan for the future of the business.
“The UK economy now has 650 more0 employee owners which has an ownership dividend for the individual, the business and the economy.”
Follow the link below to the BBC iplayer to watch the clips at 6.50am, 7.47am and 8.54am.
The EOA was challenged to ‘turn up the dial’ to grow the sector and help shift the economy during the keynote speech at the EOA Summer Dinner.ResPublica Director Phillip Blond urged the employee owned sector to set a challenging target to make su...Read Article
Wanting a healthy and productive workplace to support the wellbeing of your people?Cullinan Studio can help you achieve your workplace aspirations. We design low-energy and comfortable working environments that encourage collaboration and prioritise emplo...Read Members Offer