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EFES NEWSLETTER - JANUARY 2013
New
support from the European Union in 2013
Both European Commission and Parliament will bring more
support for employee ownership in 2013. The European budget
was voted by the European Parliament, including a budget
heading for a pilot project for the setting up of a Center
for Employee Ownership in each Member State, to deliver
information, education and promotion of adequate legislation.
In addition, the European Commission announced its Action
Plan to modernize European company law and corporate governance,
including measures on employee share ownership. More details
Press
review
We made a selection of 36 remarkable articles in 7 countries
in December 2012: Austria, France, Germany, South Africa,
Spain, UK, USA.
Austria:
Only three percent of Austrians hold shares. Employees hold
14.5% of Voestalpine whose shares outperformed all other
European steel companies in 2012.
European Union: The European Commission announced
its Action Plan to modernize European company law and corporate
governance, including measures on employee share ownership.
France:
Research by Amundi on employee shareholders' behavior in
2012. Employee share plans got smaller subscriptions in
the financial sector. New employee share plans for Vallourec
and for Vinci. Employee share ownership is a major strategic
tool. Corporate Social Responsibility gets more attention
in corporate strategies and governance. New employee buyouts
through workers' cooperatives. Steria: Employees hold 25%
of voting rights.
Germany:
The German Ministry of Economics and Technology has a new
Internet portal for employee ownership.
Spain:
The Spanish confederation of employee-owned companies Confesal
is preparing the European Pilot Project aiming to set up
a Center for Employee Ownership in each Member State of
the European Union.
UK:
The Government wishes to see a major increase in the number
of companies owned at least partly by their employees. The
current profile and success of employee ownership is unprecedented.
Employee ownership is now being embraced as the most prominent
alternative to the over-dominant PLC model.
USA:
Employees quietly emerge as new force in buyouts. Employees
are using retirement plans to buy their own companies and
experts expect more deals in the coming year.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2012/December.htm
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political roadmap for employee ownership in Europe
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