Herd Group becomes part of the Employee Ownership Trust programme
Nigel Schroder, Group CEO of the Herd Group of businesses has announced the Herd Group Employee Ownership Trust (HG-EOT) is now in place, effectively meaning that all members of the Herd Group Team now ‘own’ the business.
The Herd Group, an expert in the provision and management of Commercial Vehicles within the Rental and Fleet Management channels, has seen significant year on year growth since the business was founded in 2014, a respected and leading brand, recognised as the industry leader in providing exceptional Customer CARE.
By creating the HG-EOT it has provided continuity in all areas, the Herd brand will be in place for years to come and the Herd Team, who are integral in the success of the business, will all benefit from its success.
Employee Ownership Trusts (EOTs) were introduced by the Government in 2014 to encourage more shareholders to set up a corporate structure similar to the John Lewis model. The aim is to facilitate wider employee ownership, allowing employees to share in and shape a company’s future success.
Nigel Schroder said: “Within our industry sector we see so many businesses being swallowed up by larger competitors or taken over by outside investors when they reach a certain size, in terms of both their fleet and profit returns.
“Invariably the original business and the culture of that business are destroyed, broken up, diluted, in order to be absorbed into the buying business or restructured under an investor. The people that built the original business become a number and the culture that created the success is forgotten.
“In order to maintain what we have built and in order to take the business to its next level, the Herd Group Employee Ownership Trust has been created.
“At Herd, we have spent years building an incredible brand, a unique culture which has been built on a passion for Customer CARE and a brilliant team, who always deliver… every single one them are amazing and it is only right that they all share in the current and future success of Herd.”