Hudgell Solicitors embraces employee ownership

Hudgell Solicitors is transitioning to an employee-owned structure. This follows a decision by founder Neil Hudgell to transfer the majority of shares to an Employee Ownership Trust (EOT).

Neil Hudgell established the firm in Hull in 1997 and says the move is being taken to ’embrace the talent’ within the business. He wants to ‘give something back’ and protect its long-term future.

Employees will take the majority stake in the business as a group, held on trust. This will enable them to become involved in the firm’s decision-making, strategy and direction moving forward.

Mr Hudgell will remain active, but says the time is right to give staff a ‘direct voice in the management and ownership of the business and its future’.

EOTs allow businesses to protect the jobs of their staff and keep the business in the same location. There are now around 1,300 employee owned businesses in the UK, including a small number of other law firms.

Hudgell states; “I don’t see my role and involvement changing for five years or more, I still have the energy and passion for what I do, I still enjoy the work and I still enjoy the people, that’s not changed. This is all about the next 25 years and beyond.

“My real driver is to encourage and reward the people in the business who have energy and ideas, and with the drive to become more prominent leaders within the business. I want to invest in the people that have helped us achieve what we have achieved so far. It’s time to give them something back.”

Mr Hudgell will remain on the senior executive team alongside chief executive Rachel Di Clemente.

Rachel Di Clemente commented; “It is business as usual, but going forward people will have more opportunity to become involved in the journey we are now on. Even though it already feels that way, it will now be our peoples’ business, not just Neil’s, and that is very positive.”

“I think our people will embrace the opportunity this provides. We are a cohesive team here at Hudgells and this almost formalises how we look to do things, ensuring our colleagues are able to help shape the future of the business and share in its success.”

Image: Hudgell Solicitors
Emma Cockings
Emma is the content editor for Yorkshire Legal News. Emma is an experienced writer with a background in client-centric personal injury law for a major firm. She has attended and reported on numerous high-profile legal events in Yorkshire.