EFES NEWSLETTER - FEBRERO 2011
Presidency of the European Union Council – Conference on
The conference expressed its support to the European Economic
and Social Committee, asking for:
● Regarding large companies: Each European
country should make available "an optional simple,
uniform incentive model, with the same tax-arrangements
and incentives throughout the EU".
● Regarding SMEs: Each European country should
strongly encourage business transmission to employees as
the USA did since 1974 – this is the concept of a "European
ESOP model" for SMEs.
The report of the conference is now available. Read
Center for Strategic Analysis of the French Republic
According to the Center for Strategic Analysis of the French
Republic, the social performance of a company having employee
share ownership is 52% higher than that of companies which
have neither employee share ownership nor employee savings
plan. The effectiveness of employee share ownership has
to be reinforced by ensuring the representation of employee
shareholders. Read more
Much new information about employee ownership in January
2011, with 1.420 articles in this press review (on which
533 involving stock options and 288 about workers' cooperatives).
We made a selection of 36 remarkable articles in 12 countries:
Austria, Canada, France, Germany, Ireland, India, Italy,
Poland, Sri Lanka, Switzerland, UK, USA.
Steel company VoestAlpine celebrates its successful employee
GDF Suez going to abandon stock options and preferably to
use performance and free shares. Mondragon cooperatives
seen as a good example. French workers cooperatives launch
a national campaign.
German companies have much work to do about employee ownership.
In international comparisons, employee ownership appears
clearly underdeveloped in Germany compared to other European
countries and the USA. German legislation should be more
supportive. Siemens association of employee shareholders
complains about executives' remuneration.
After a hiatus in 2008 and a mild revival in 2009, 2010
saw a spectacular revival in employee stock options. Nearly
100,000 IBM India employees are set to receive a $1,000
stock bonus each.
Ireland: The General Secretary of the Irish Congress
of Trade Unions joins the board of directors of Aer Lingus,
having been appointed by the airline’s Employee Share Ownership
A new way of employee financial participation for Fiat ?
Banco Popolare di Milano: Employee owners maybe going from
3.7% to 10%.
Poland: Struggles over employee privatization in
Poland. A scheme supporting employee privatization was adopted
in 2009 but now seen as a fiasco. Polish Employers oppose
to its proposed liquidation. On the other hand, Polish Ministry
of the Economy wants to introduce new employee ownership
Lanka: Sri Lanka bank to use performance driven stock
New tax benefits for employee ownership schemes. Many publicly
listed companies in Switzerland rely on employee share plans
and their financial motivation incentives.
John Lewis to boost UK job market. The employee owned retail
Giant has revealed plans that will create thousands jobs
this year and to expand overseas, taking the department
store global by the end of 2011. Conservative Chair of the
All-Party group on Employee Ownership at Westminster publishes
a new book on the Big Society.
For more than two decades, employee stock ownership plans
(ESOPs) have served as an effective succession planning
tool and providing significant tax advantages. The ESOP
Association submits comments on tax reform. Several reasons
ESOPs are a suitable succession strategy for businesses.
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