Richer, not poorer – lessons from the ‘Ethical Capitalist’
Hats off to Julian Richer, the successful electronics retailer who recently transferred a majority of his shareholding in Richer Sounds to a trust set up for the benefit of his employees (called an Employee Ownership Trust). Richer, who says he already has enough money, wanted to share his company’s success with its employees and to incentivise them to carry on growing the business. Richer, now 60, considers this to be the next step in developing a corporate culture which sees the benefit in treating both employees and customers fairly and with respect – an approach he developed in his book “The Ethical Capitalist”.
Please click on the link if you would like to know more about Employee Ownership Trusts.