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PACIFIC BULLETIN What is employee ownership?


THE first meeting of the Trustee Board was held on May 1, and it gave everyone the opportunity to see how the new company structure will work. However, it became clear at


the meeting that some employees were still a little bit unsure of the basic premise that the business is RUN by the Board of Directors. The Trustee Board are there as guardians on behalf of the beneficiaries to


ensure the Board of Directors have the best interest of the business and, therefore, the Trustees in mind.


Some questions that came up included:


Q Has the ownership “split” been discussed/agreed? A The Board of Pacific Building (the Trading company) and Pacific Trustees Limited (the EOT trustees) haven’t looked at this in any great detail.


Q Will there be transparency from Board level throughout the company in relation to


Trustee Meetings and plans for the business? A The Board and Trustees have discussed how we can improve communication


of key information to our employee owners. But we want to be honest and make it clear that we will not always be able to share all decisions and discussions that take place.


Q Do we know how often the Trustee Board meetings will take place? Once a month/


quarter? A We are committed to meeting at least twice yearly. We can meet more regularly than this but at the moment we don’t believe there is any need for this.


More questions answered


GO to the new Staff Information section of the Pacific Building website. Questions that are addressed include: •What do the Trustees do? •How does the role of Trustee of an EOT differ from


shareholders in PLCs? •How do you hold the board of Pacific to account? •Why don’t the EOT Trustees get involved in policy? •Specifically, what are the duties of EOT Trustees? •Does the Employee Trustee Director role differ at all? •How would you like to see Pacific develop?


GIVE US AN IDEA


THE suggestion box is located at the back office.


Please take time to think about ideas, from way to improve our working


environment, to cost-saving ideas, training, staff nights out or anything else that comes to mind.


PACIFIC BUILDING LTD • 31 -33 EARL HAIG ROAD • HILLINGTON • GLASGOW G52 4JU


CHARITY BEGINS


AT WORK BUNGEE-


jumping, wear-a- wig Wednesday, floral shirt Friday – what activity do you think would be worth staging in order to help a good cause? We’re


looking for


ideas so all staff can get involved in a bit of fun while supporting a charitable or other deserving organisation. Email Lauren Schoolar with your thoughts.


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