Torchbox hands over 100% of business to employees to ensure independence

first_img Tagged with: Finance AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Digital agency Torchbox has announced the transference of the business into a Employee Ownership Trust.The agency founders have made the move, which sees it hand over 100% of the business to its employees, to ensure its future independence.Torchbox provides digital product development and marketing services to clients across non-profit, healthcare and higher education sectors, and created Wagtail, the open source CMS used by the NHS, NASA and Google.Its founders Olly Willans and Tom Dyson first revealed plans to staff in March and expect the sale process to complete on 28 June 2019.Torchbox’s employees, who will receive a tax-free bonus of up to £3,600 every year as part of the deal, have elected a Trust of Directors from the existing workforce. This Trust will work alongside Torchbox’s Directors to oversee strategy and growth, with an emphasis on ensuring that the business’s sense of purpose and values remains paramount.Willans and Dyson will be part of the Trust for five years, until their majority stake is repaid by the business. Staff will eventually be able to decide how to direct agency profits and will continue to input into the running of the business via the Trust, in a model similar to that of the John Lewis Partnership.Olly Willans explained:“When we were considering the future of Torchbox, we thought about the importance of retaining our independent spirit, continuing our fast growth and empowering our brilliant team to take an active part in our business.“We decided that by far the best people to own Torchbox are the people who have made it the success it is today, and the people who will continue to make it a success tomorrow. If we were going to choose employee ownership, then we wanted to commit to it entirely without maintaining any kind of minority shareholding.”Tom Dyson added: Advertisement Melanie May | 28 June 2019 | News “We plan to spend the next five years focused on maintaining the business’s growth and success, continuing with our US expansion plans and ensuring we hit our targets. We’ve been lucky enough to work with an amazing array of clients who all have a strong purpose – from our first big client the MS Society to huge non-profit organisations like the NHS and NASA. However, the thing I’m most proud of is the team we’ve built at Torchbox – many of them have been with us for more than a decade and two employees have worked here since year one. To me, that says we’ve built something really special, which is even more reason for moving to employee ownership as a thank you for all that hard work and commitment”Deb Oxley OBE, CEO of the Employee Ownership Association, said:“We congratulate Torchbox on its transition to employee ownership. By widening ownership of the business to its employees Torchbox 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 community which it serves.”The four Trustee Directors were elected by staff after interested employees submitted a 100-word bid, explaining why they thought they would be strong candidates. Bekah Evans, delivery manager at Torchbox is a newly elected Trustee Director.She commented:“Creating the Employee Ownership Trust will ensure the spirit and soul of the company will continue after Tom and Olly move on. It will help us maintain our independence and continue to grow in a way that benefits clients and staff alike. For me, this also represents a big opportunity to learn new skills while helping to shape the future of our business.” About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Main image: founders Olly Willans and Tom Dyson  287 total views,  2 views today  288 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Torchbox hands over 100% of business to employees to ensure independencelast_img read more

Foreign invasion

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Virgil van Dijk wins UEFA Men’s Player of the Year award

first_imgJury members picked their top three players, with the first receiving five points, the second three and the third one. Coaches were not allowed to vote for players from their own team.Van Dijk testimonials“You could write a book about Virgil van Dijk’s strengths and abilities. He is still young, but he’s so mature.”Jürgen Klopp, Liverpool manager“The ‘Swagger Don’. Virgil is suave on and off the pitch. He makes everything look easy, doesn’t he? When you’ve got him behind you, you’ve got that feeling of security. He’s been an absolute rock all season.”Alex Oxlade-Chamberlain, Liverpool midfielder“He embodies the full picture of a defender: his radiance, the way he captains the group, his presence on the pitch, and also now the prizes – the Champions League was fantastic. He can be an example to anyone who wants to aspire to be the best.”Ronald Koeman, Netherlands coach Source: UEFA.com Liverpool defender Virgil van Dijk has been named UEFA Men’s Player of the Year for 2018/19.The Dutch international beat off competition from three-time UEFA Men’s Player of the Year Cristiano Ronaldo and two-time winner Lionel Messi. The 28-year-old centre-back received the trophy on stage in Monaco during the UEFA Champions League group stage draw.The top ten1 Virgil van Dijk (Liverpool & Netherlands) – 305 points2 Lionel Messi (Barcelona & Argentina) – 207 points3 Cristiano Ronaldo (Juventus & Portugal) – 74 points5 Sadio Mané (Liverpool & Senegal) – 51 points6 Mohamed Salah (Liverpool & Egypt) – 49 points7 Eden Hazard (Chelsea/Real Madrid & Belgium) – 38 points8 Matthijs de Ligt (Ajax/Juventus & Netherlands) – 27 points8 Frenkie de Jong (Ajax/Barcelona & Netherlands) – 27 points10 Raheem Sterling (Manchester City & England) – 12 pointsWhy did Van Dijk win the vote?Following Liverpool’s 2018 final defeat by Real Madrid, Van Dijk had every reason for nerves ahead of the 2019 decider, but his concentration did not waver. He shut out the opposition and was named man of the match as his side edged out Tottenham Hotspur in Madrid.Fearless since arriving from Southampton in January 2018, Van Dijk kept more clean sheets than any defender in Europe’s top five leagues in 2018/19. While Liverpool fell narrowly short in the Premier League, his solid presence (and occasional goal scoring efforts) provided the platform for a sixth European Cup.Season in numbers Roll of honourcenter_img 2018/19 – Virgil van Dijk (Liverpool & Netherlands)2017/18 ─ Luka Modrić (Real Madrid & Croatia)2016/17 ─ Cristiano Ronaldo (Real Madrid & Portugal)2015/16 ─ Cristiano Ronaldo (Real Madrid & Portugal)2014/15 ─ Lionel Messi (Barcelona & Argentina)2013/14 ─ Cristiano Ronaldo (Real Madrid & Portugal)2012/13 ─ Franck Ribéry (Bayern & France)2011/12 ─ Andrés Iniesta (Barcelona & Spain)2010/11 ─ Lionel Messi (Barcelona & Argentina) Honours: UEFA Champions League winner, UEFA Nations League runner-up, English Premier League runner-up, PFA Players’ Player of the Year.UEFA Champions LeagueAppearances: 12Goals: 2Assists: 2Domestic leagueAppearances: 38Goals: 4Assists: 2How Van Dijk was chosenThe jury comprised the 80 coaches of the clubs that participated in the group stages of the 2018/19 UEFA Champions League (32) and UEFA Europa League (48), along with 55 journalists selected by the European Sports Media (ESM) group, one from each of UEFA’s member associations.last_img read more