Alternative Exit #48 | Live from the EOA, Legacy Over Money - Catherine Cameron on Employee Ownership

In this live episode from the EOA Conference in Telford, Andy sits down with Catherine Cameron, founder of Agulhas (nobody can spell it, nobody can say it), a research and consulting firm specialising in climate change and conflict/fragility for international development. Five years into their employee ownership journey, Catherine shares why they chose legacy over a lucrative trade sale.

Key Takeaways:

Agulhas works with the World Bank, African Development Bank, Green Climate Fund, UK government, and foundations like the Gates Foundation. When Catherine and the other two founders (now in their 50s and 60s) started succession planning, they had trade sale offers on paper that looked "really tempting." But research revealed the inside story wasn't as glowy - trade sales often affect values and lead to redundancies.

The financial outcome? A trade sale would have been better. But the decision wasn't about money.

Catherine describes their thoughtful transition process: 12-18 months of founder discussions, involving the four-person leadership team, keeping staff informed without overwhelming them. The key message wasn't about bonuses - it was about opportunity, responsibility, governance changes, and empowerment.

Five years later, the results speak for themselves: two of their main partner companies have since transitioned to EO, and one member of their supply chain too. Staff are having conversations about what EO means with their own agency and authority. And the founders are gradually exiting - Catherine leaves as a paid employee at the end of this year.

Memorable Moments:

• Why they named the company after Cape Agulhas (the southernmost tip of Africa where ocean currents meet)
• The "strange people coming in and out of the office" during transition planning
• Staff feedback: Agulhas focused on opportunity and empowerment, other companies went straight to "when do we get our bonus?"
• The employee trustee's quarterly anonymous pulse surveys to check how everyone's feeling
• Transitioning in December 2020: "We were playing Hokey Cokey with COVID"
• Achieving B Corp certification in summer 2023 as a reinforcement of EO values
• Catherine's immediate answer to who she most admires: "Ann Tyler" - no hesitation

Guest: Catherine Cameron, Founder at Agulhas

• LinkedIn: https://www.linkedin.com/in/catherine-cameron (simple!)
• Company: https://agulhas.co.uk

Sponsor: This episode is brought to you by EOT Expert by Christian Wilson – providing technical expertise and compliance support for EOT transitions and ongoing governance. Learn more at eotexpert.co.uk