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Everything you need to know about EBT, and what it means for Lush employees and you!
What does EBT mean?
“EBT” is an acronym for Employee Benefit Trust. The Lush Employee Benefit Trust is a legal entity that holds company shares on behalf of our Lush Colleagues, who are all beneficiaries of the Lush EBT.
What does that mean
at Lush?
In 2017, the Lush Shareholders gifted 10% of the company shares into the EBT, a Trust in which these 10% of shares are held. Along with the other Shareholders of the business, the Lush EBT owns a proportion of the Lush business. As an employee of the Lush Group, you are a beneficiary of the Lush EBT, and 5 Trustees look after the Trust on your behalf.
No time to read? Prefer to watch or listen?
WATCH
Check out this whistle stop tour with of the EBT with Kim Coles (Finance Director ) and Karl Bygrave (Lush Director, Shareholder and Company Appointed EBT Trustee).
Watch Time - 6 minutes
LISTEN
Listen to the Lush Talk Podcast where we explore all things EBT and employee ownership!
Listen Time - 4 minutes
Why Lush wanted an
Employee Benefit Trust...
Employee ownership is something that we had been exploring at Lush 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.
What does that mean for Lush?
At Lush, sharing the ownership of the company with our staff means:
🖤 Protecting the future ownership of the business
🖤 Involving everyone in upholding our values, ethics and our unique way of doing business as set out in the We Believe statement and the Lush Ethical Charter
🖤 Recognising the contribution every person makes
🖤 Putting more information into everyone’s hands and providing channels to facilitate two-way communication where we can all ask questions and contribute ideas and suggestions, wherever in the Lush world we may be
🖤 Promoting a culture where everyone is driven to ensure Lush thrives, because when the business is thriving, everyone benefits and shares in the rewards of success
The Trustee Board
The Trustee board for the Lush 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
Alongside our Trustees we also have a network of EBT Representatives from each group market. These Reps are democratically elected through our EBT Elections process and have a term of 2 years.
The EBT Rep role is present in each business area in all of our Group markets, whether that is Retail, Manufacturing or Support.
Meet your EBT Reps ➜
What Next?
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