Gandy Gifting Full Ownership to Employees in an EOT (Employee Ownership Trust)
Not retiring but magnanimous gesture assures smooth succession and also prevents V.C. vulture buyout
On October 28th Rega co-founder Roy Gandy (the "ga" part of the company name) gifted 100% of his shares (which represents full company ownership) to his employees as part of an EOT arrangement. Read the statement below and be amazed and if you are a Rega turntable owner, a dealer or distributor, be assured. Hopefully other companies will do likewise or follow a similar path. Given the hollowed out, sad states of some other veteran companies have become under venture capital ownership—and I could name names but won't here—let's hope this becomes a succession model.
