Loading Events

« All Events

  • This event has passed.

A Succession Alternative – an Employee-owned Cooperative

Date
17 September 2021, Friday
Time
2:00 pm - 3:00 pm
Cost

nil

Robert McMasterformer General Manager of C-Mac Industries in Girraween, transferred their family business to the employees will be presenting via zoom.
After a seven-year journey attempting to transfer ownership of a  fifty-year-old family engineering manufacturing company, this being the first worker cooperative established in NSW after the introduction of the new National Cooperative Legislation.
This was a top-down business succession initiative overseen by Dr Anthony Jensen, Newcastle University utilising a participating action research (PAR) approach.
An ESOP was put in place but failed, sale offer to employees failed, open market sale with no one interested, management buyout offer and finally the worker coop idea succeeded. Many lessons were learnt.
Rob McMaster, the former General Manager, wrote a book called “Swapping Desks” detailing the failures and wins leading up to the coops formation.
The coop lasted three years and went into voluntary administration, but it still went into liquidation even with a full order book!
C-Mac Industries Cooperative Ltd was sold and now runs as three separate incorporated businesses.
Learn about what happened and how this could be prevented in the future?
This event is being hosted by the  Co-operatives Research Group Seminar at Sydney University School of Management
Robert McMaster is now a Co-Founder of Bluetongue Cooperative Development Network www.bluetongue.com.au

Organiser

Co-operatives Research Group
Phone:
9351 6625
Email:
glenn.howell@sydney.edu.au
Venue
online event via zoom