Confex, which has been run as a family-owned business since it was founded in 1972, is radically changing its corporate structure.
From 1 January 2020, the 220 members will become shareholders in the group and also play an integral part in deciding its future direction. All future profits made by head office will be shared amongst the membership according to their contribution to group turnover.
In addition, a new board of eight directors will, for the first time, comprise four representatives from the membership and four members of the management team who work at Confex HQ in Moreton-in-Marsh.
The role of chairman, created for the first time earlier this year for Martin Williams, the former managing director of Landmark, will become permanent. It is expected that future chairmen may come from amongst the members or be figures with a similar industry standing to that of Martin Williams.
Confex director James Loffet said: “The introduction of member shares and dividends is a practical demonstration of our continuing total commitment to our members and shows that we work tirelessly for the success and growth of their businesses. Our loyal members now know they will be rewarded for their support. ”
Tel: Confex (01608) 652333
Published Date: November 11, 2019