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Everything you need to know about EBT, and what it means for both customers, employees and you!
What does EBT mean?
“EBT” is an acronym for Employee Benefit Trust. The CW Employee Benefit Trust is a legal entity that holds company shares on behalf of our CW Colleagues, who are all beneficiaries of the CW EBT.
What does that mean
at Cosmetic Warriors?
In 2017, the Shareholders of Cosmetic Warriors gifted 10% of the company shares into the CW EBT, a Trust in which these shares are held. Along with the other Shareholders of the business, the CW EBT owns a proportion of the Cosmetic Warriors business. As an employee of the Cosmetics Warriors Group, you are a beneficiary of the CW EBT, and 5 Trustees look after the trust on your behalf.
No time to read?
Check out this whistle stop tour with of the EBT with Kim Coles (Financial Director ) and Karl Bygrave (Lush Director, Shareholder and Company Appointed EBT Trustee).
Watch Time - 6 minutes
Why Cosmetics Warriors
wanted an EBT Trust...
Employee Ownership is something that we had been exploring at CW for over 15 years before becoming part employee owned.
Our employees and ethics are the heart of our business, and employee ownership has always made sense as we already foster so many of the typical cultures we see in employee owned businesses.
The CW EBT and the legal framework that governs the management of the CW EBT recognises this by ensuring protection of all the things that make Lush well, Lush...
What does that mean for Cosmetic Warriors?
Our employees and ethics are the heart of our business, and employee ownership has always made sense as we already foster so many of the typical cultures we see in employee owned businesses.
The purpose of having an employee ownership scheme is to:
🖤 Enshrine our ethics
🖤 Ensure the independent ownership of the business
🖤 Maintain the bonus culture
🖤 Promote two way inclusive communication to share knowledge & give every CW colleague a voice
How the Cosmetic Warriors EBT works
Along with the other Shareholders of the business, the CW EBT holds 10% of the shares in the Lush business. As employees of the CW Group, you are beneficiaries of the CW EBT, and a board of Trustees look after the Trust on your behalf.
The Trustee board for the Cosmetic Warriors Employee Benefit Trust is made up of five Trustees:
2 x Staff Elected Trustees - Voted for by all Group employees through our famous EBT elections
2 x Company Appointed Trustees - Appointed by the Lush Board
1 x Independent Trustee appointed by the company appointed and staff elected Trustees
What Next?
EBT FAQs
For specific questions regarding the Employee Benefit Trust
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