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Employee share ownership and the EU corporate governance framework
In 2011, the European Commission published a Green Paper and they organized a public consultation about the EU Corporate Governance Framework. Question 23 was about employee ownership: "Are there measures to be taken, and is so, which ones, to promote at EU level employee share ownership?" Many companies, enterprises organizations, unions, organizations of the civil society and public authorities answered the consultation. About employee share ownership, the Commission received 252 answers from 34 countries. It is remarkable that answers are globally positive. In fact, the global quote is positive at 65%. However, it is sad that the question was ambiguous: Many people answered positively, supporting the idea that employee ownership should be promoted by the EU, while others gave negative answers fearing that the EU could restrict their freedom in the field (for example, most Swedish companies gave the same hard negative answer). More information

Curriculum Library on Employee Ownership (CLEO)
CLEO, is the largest online academic repository of teaching and background materials on employee ownership. CLEO offers over 500 materials (e.g., books, articles, cases, teaching modules, etc.) to help with research and teaching on a broad range of topics on employee ownership; more recent newly developed works and educational cases, syllabi, and curriculum; teaching modules and reading collections with suggested relevant materials. More information

Press review
Much new information about employee ownership in November 2011, with 1.649 articles in this press review (on which 489 involving stock options and 531 about workers' cooperatives). We made a selection of 46 remarkable articles in 10 countries: France, Guyana, India, Italy, Japan, Morocco, South Africa, UK, USA, Zimbabwe.
France: Statistics show that employee savings and employee share ownership are at their highest in 2011. Difficult way for unions' proposal of a workers cooperative for rescuing SeaFrance. Coming employee share plan for La Poste. A number of typical cases in French workers coops and SMEs.
India: Employee stock option plans (ESOPs) versus employee stock purchase plans (ESPPs).
Italy: Banco Popolare di Milano's share issue falls short of target.
Japan: Among Tokyo Electric Power Co.s biggest shareholders, only one increased its holdings in the utility that faces massive liabilities after the Fukushima disaster: Its employees.
Morocco: New employee share plans for Managem Group.
South Africa: Miners' union: Black employee ownership still too low. Cabinet approves changes to black empowerment act: Greater incentives for genuine broad-based ownership, such as employee share ownership. 6.000 worker shareholders become half millionaires overnight.
UK: Circle Health the 'social enterprise' run by the world's hardest hedge fund managers. The UK Employee Ownership Index (EOI) is published by the Equity Incentives team at law firm, Field Fisher Waterhouse.
USA: Some new sales of companies to employees through employee stock ownership plans (ESOPs). SAIC (formerly employee-owned, and now public) searches for new leadership. The last big employee-owned newspaper was sold to Warren Buffet: The company's ESOP employee-ownership structure was too restrictive and had forced the newspaper to repurchase stock from departing employees.
Zimbabwe: Nationalising critical mineral resources through indigenisation programme and employee share ownership schemes.

The full press review is available on:

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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
Web site:
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.

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