Leeds-based planning consultancy, Quod, has become an employee-owned company, with the shares held in Trust for the benefit of all current and future employees.
Founded in 2010, Quod explained why it chose an Employee Ownership Trust: “It embodies the company culture in which we all feel responsible for the business’s performance and success. Establishing the Trust is the natural next step in our journey, which has always been characterised by a strong community of friendship, ethos of profit sharing and equal opportunity. A Trust also maintains Quod’s independence.”
Quod’s founding directors say they remain committed to the business. The Trust, which includes an independent chair, is there to hold the refreshed management team to account on behalf of the employees but, as Tom Dobson, Quod’s new Managing Director explains: “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 that we deliver only the highest quality advice.”
Tom Dobson also believes that remaining independent will ensure that Quod can retain its culture and reputation. Tom added: “As a people-focussed business, the employee ownership model will provide long term stability for all colleagues, and ensure that we continue to serve our clients with genuine independence.”
John Rhodes OBE, co-founder of Quod, 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.”
He added: “It’s a very exciting time and this step allows our colleagues to feel even more connected to the company. They have a real stake in the success of the business and can take pride in knowing that they are shareholders, building for the future. Together we will continue to grow the business for the benefit of our employee co-owners and our clients, shaping high quality development that creates a positive legacy for affected communities and the environment.”
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 (EOA), said: “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.”
