In this live episode from the EOA Conference in Telford, Andy sits down with Michael Hodgson, elected chair of Glide, an employee-owned membership organization that holds shares across three manufacturing businesses: Gripple (wire joiners, £130M turnover), LoadHog (returnable transit packaging, £45M turnover), and GoTools (tooling manufacturer).

Key Takeaways:

Glide operates a direct ownership model that's different from most EOTs discussed at the conference. Every employee is required after one year to buy shares in their parent company from Glide, which holds about 20% of gifted non-tradable shares donated by founder Hugh Facey. The model is set up like a sports club: one member, one vote, no hierarchy, with elected representatives.

The power of this approach? When people have skin in the game and see personal financial growth linked to business performance, "you see the cogs turn." The connection between discretionary effort and individual dividend payments creates powerful alignment. Michael describes how sharing forecast dividends and share price impacts generates tangible engagement with business performance.

The conversation explores sophisticated governance: Glide operates with clear accountability around growing businesses, new product innovation as a percentage of turnover, charity contributions, and sector support. Michael serves on company boards, participatory frameworks include 200 members in budget discussions, and the model has proven sustainable for decades - the founder gifted shares in the early 1990s.

Memorable Moments:

• Hugh Facey's view: "It's not proper employee ownership" without direct ownership
• The coffee shop conversation: understanding dividends through the lens of personal spending
• How 11.5% annual share price growth demonstrates the model's success
• The delicate balance: Glide challenges and holds businesses to account, but doesn't manage them
• Why every key person in the business is a shareholder (succession risk mitigation)
• The "largest shareholder" insight: 20% gifted shares plus all individual shareholders who are Glide members
• Michael's admiration for Andrew Lane at Union Industries: "Very authentic Yorkshire business"

Guest: Michael Hodgson, Elected Chair at Glide

• LinkedIn: https://www.linkedin.com/in/michael-hodgson-a79ab625/overlay/photo/
• Companies: Gripple, Load Hog, GoTools (find via their websites)

Sponsor: This episode is brought to you by EOT Expert by Christian Wilson – providing technical expertise and compliance support for EOT transitions and ongoing governance. Learn more at eotexpert.co.uk