Employee ownership signals fresh chapter for consultancy
Planning and development consultancy, Quod, has made the leap to become an employee-owned company, with the firm’s shares now held in trust for the benefit of all current and future employees.
The business, which has bases in Leeds and London, was founded in 2010 and has chosen to become an Employee Ownership Trust. (EOT)
Quod’s founding directors say they remain “absolutely committed” to the business.
They explain the trust, which includes an independent chair, will hold the refreshed management team to account on behalf of the employees.
Tom Dobson, the new managing director, said: “Becoming employee-owned has formalised Quod’s long-held belief that the success of the company comes from having a great, positively engaged team, where everyone is personally invested and plays their part to ensure we deliver only the highest quality advice.”
He said he also believes that by remaining independent, the company will be be able to retain its culture and reputation, adding: “As a people-focused business, the employee ownership model will provide long-term stability for all colleagues, and ensure we continue to serve our clients with genuine independence.”
John Rhodes, company co-founder, said: “Since founding Quod in 2010, we have seen the business grow into a renowned and respected consultancy, thanks to the commitment of our people.
“We have collectively taken the decision to turn the practice into an Employee Ownership Trust in order to put the future of the business firmly in the hands of those that have built it – our employees.
“All the founders remain absolutely committed to the business, and we look forward to many more successful years of Quod.”
“Together we will continue to grow the business for the benefit of our employee co-owners and our clients.”
Elva Phelan, a director of Quod, said: “We would like to thank our excellent advisors for taking us through the EOT process seamlessly including Fox Williams, BDO, CBW, and Fieldfisher, but also everyone at Quod, all of whom have engaged enthusiastically to help shape our new future.”
James de le Vingne, chief executive of the Employee Ownership Association, added: “We congratulate our member Quod on its transition to employee ownership; securing the ethos, values and culture of the businesses.
“Businesses that give employees a stake and a say build trust and shared responsibility, uniting leaders and employees behind a common purpose, and leaving businesses in a better position to flex and adapt.”
