Staff take majority stake in Manchester digital agency I-COM
The owners of Manchester’s I-COM have transferred a majority stake in the digital marketing agency to staff.
An Employee Ownership Trust was established to mark the 15th anniversary of the agency and received a majority stake. Staff members will share in the profits of the business as long as they remain employees.
Technical Director Ravi Bhalla said: “We know that our people are the heart of our business and what governs its success. Many of our team have been with us for several years and we felt it only right that they should have a stake in the ongoing success of the business. This heralds the start of a new chapter for I-COM and we look forward to continued growth and success.”
Employees Kate Sherratt, Graham Allchurch and David Walsh will join the board as representatives of the trust. Desmond Hudson, formerly CEO of SMG’s Publishing Division and CEO of the Law Society, will also join the board as a Non-Executive Director
Managing Director Mike Blackburn added: “The talents of our people are what make us successful as a business. Historically, we’ve always given back some of our profits by way of bonuses, but the EOT makes this a formal commitment to our people.
“In today's employment market where skilled people are in short supply, giving the team a stake in the company seems like the next logical step to take. We’re sure it will encourage engagement and focus the team on delivering even greater results for our clients.”