Stuff Owner Sinead Boucher Gifts 10% of Company to Staff

A unique move by Stuff’s owner, Sinead Boucher, will see their employees be gifted a 10% share of the company.

Almost 900 employees will be receiving the shares, which will mean recieving dividends and 10% of the sale proceeds if Stuff was ever to be sold or publicly listed.

The stake doesn’t come with voting rights and doesn’t put staff in the way of any liabilities such as tax liabilities.

The trust will be set up with the intention of giving all staff the benefit from that,” says Sinead Boucher. The stake will be put into a trust, controlled by employee representatives, who will be chosen between one another. “I wanted to create an option where no-one had to buy-in. Any staff member will automatically become a beneficiary,” she said.

 

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