Employee share ownership: 60% of employees become Technord shareholders!

25 Aug 23News, Press, Technord adventure

We are proud to announce that 250 employees will become Technord shareholders.

TAS: our new employee share ownership project

Employee share ownership has been a project close to our hearts for some time. That’s why we’re proud to announce the completion of our TAS (Technord Actionnariat Salarié) project.

Through TAS, we have opened up 20% of our capital to our employees, and over 60% of them have decided to join this new adventure.

A look back at the implementation of this employee shareholding scheme at Technord

With the support of Wallonie Entreprendre (WE), we were able to open up 20% of our capital.

The TAS initiative was then offered to all our employees with permanent contracts, on a voluntary basis.

As our CEO Philippe Foucart points out, “all categories of workers followed suit, with a third of blue-collar workers taking shares, as well as shop stewards”.

Together, they will own 20% of the company’s capital from April 2024. Mission accomplished!

For our employees who arrived after TAS was set up, they will have the opportunity to join the project in 2027.

In fact, every 3 years, sales windows will be opened for the resale of shares or the repurchase of new shares.

After analysis, we estimate a return of 30% per year!

Why create such a project?

This is a major project in the history of our family-owned group, and reflects the founding family’s desire to involve all workers, both white-collar and blue-collar, in the ownership and governance of their workplace.

In fact, the project offers many advantages, both economically and socially:

  • Building employee loyalty
  • Development of participative management
  • Increasing our profitability
  • Sharing our financial results
  • Attracting new candidates

We are delighted to have successfully implemented this employee shareholding project. Thanks to it, we have a new way of congratulating our employees for all the hard work they have put in over the years.

If you’d like more details, we invite you to read the articles and/or watch the reports below.

Trends-Tendances : Technord taken over by its employees – Trends-Tendances (levif.be)

https://www.technord.com/wp-content/uploads/2023/12/Trends-Technord-1_23-11-23.pdf

Notélé : Tournai: Technord opens up its capital to 250 employees (notele.be)

Echo: https://www.technord.com/wp-content/uploads/2023/12/LEcho_TAS_18-11-23.pdf

Sud Presse: https://www.technord.com/wp-content/uploads/2023/12/2023-Sud-Presse-27-11-2023.pdf

Nord Eclair: https://www.technord.com/wp-content/uploads/2023/12/NORD-ECLAIR_27-11-23.pdf

Sud Info : Tournai-based Technord opens its doors to employees: 250 employees to become shareholders (sudinfo.be)

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