LDA Design is now a 100% employee-owned business. This assures the long-term independence of the business, and builds on everything that its nine owners have achieved over the last 42 years.
“It is an exciting moment for us, and one to savour,” says Frazer Osment, LDA Design Chair. “Employee ownership is the ultimate expression of our faith in each other. It unlocks the brilliance of the collective. Now all of our employees can help to shape the direction of the business, and benefit from its growth.”
LDA Design has been working towards employee ownership for a number of years. The time has been used to develop new, more democratic structures, shaped by the team, and ensure that its 170 people understand what employee ownership means for them.
LDA Design has set up an Employee Ownership Trust to acquire all the shares, and it will promote and protect the long-term interests of the business. It will assess progress against the commitments in a new charter which reflect the values and thinking of the entire team. Jane Mitchell has been appointed as its independent Chair.
Frazer Osment explains in this article why he thinks employee ownership is a quietly radical challenge to market norms, and how the move will help LDA Design to make a strong response to societal and environmental issues.
Frazer and Jane discuss what employee ownership means to LDA Design in our first Talking Spaces podcast.