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4 Jul 2013

By The Press and journal

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Employee ownership board room

Bosses at a north-east oil and as service firm are close to handing a controlling stake to employees.

The 28 workers at Accord Energy Solutions, who already have a share in the company, are to elect directors to the board before taking on a majority interest from the company's three founders.

Accord, which advises operators on the correct measurement and allocation of produced oil and gas, was set up by Alan Spence, James Arthur and Phil Stockton in 2010.

Mr Spence said the goal was always to become wholly employee owned.

With today being the UK's first Employee Ownership Day, Mr Spence called for more government support for the business model.

The UK Government is expected to announce new guidelines on employee ownership today.