Tangerine Celebrates 15th Birthday by Becoming Employee Owned
Tangerine has today announced that it will place 64% of its shares into an Employee Ownership Trust – The Tangerine Partnership – which will be shared among its 60+ team members.
As part of the deal, employees will become Partners, who will all benefit from a profit share scheme and have a direct influence on the running of the business.
Tangerine believes it could be the first communications consultancy to make this move, which is one of many firsts from the agency, including the launch of social media apprenticeship, The Juice Academy, in 2013, which has created over 200 jobs for young people across the North West.
“I have always promised, since launching the business 15 years ago, that I would one day like to put it in the hands of the people who helped me grow it,” said Sandy Lindsay MBE, chair of Tangerine. “Our values – ‘do great work; treat people properly’ – have always been central to everything we do and we wanted to find a way to ensure we can continue these into the future for the benefit of all.”
Deb Oxley CEO of the Employee Ownership Association said: “Some of the UK’s best companies are looking to employee ownership as a great business model to adopt which helps them to attract and retain the right talent, which in turn helps to develop and maintain great relationships with clients as well as protecting the brand, ethos and contribution the businesses makes to its local economy for future generations.”