Herefordshire haulier Burgoynes adopts employee ownership trust
Herefordshire-based logistics firm Burgoynes (Lyonshall) Ltd has introduced an employee ownership trust.
Directors at the family-owned firm, which began trading in Lyonshall in 1909, see the trust as a way to ensure the future of the firm and avoid it being sold, making Burgoynes one of a limited number to introduce the model which sees employees of the company benefiting from its profits.
Burgoynes’ new leadership team will consist of finance director, Deborah Spencer, and operations director, Jonty Howard, who were guided through the process by the Employee Ownership Trust and Co-ownership Solutions.
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Deborah said: “The trust takes a different approach to succession planning, future-proofing the business and ensuring it continues in the Burgoynes name.
“All current staff members receive a share of the profits by virtue of being an employee, without having to purchase shares in the company.
“We are excited about the new direction we are taking Burgoynes in and are looking forward to working with employees who are fully invested in the successful future of the company.”
Having originally specialised in the hauling agricultural goods, in 2006 Burgoynes diversified its operations when it joined the Pallet-Network as a shareholder member, which sees firms working together to transport palletised goods.
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