All of Confex’s members are to become shareholders in the buying group from the start of next year, with future profits made by head office shared amongst the membership according to their contribution to group turnover.
A new Board of Directors structure has also been announced, with this comprising of four representatives from the membership and four members of the management team who work at the headquarters in Moreton-in-Marsh. Martin Williams’ role of Chairman will now also become a permanent fixture.
Confex also recently announced Tom Gittins as its managing director, as well as an online community facilitated by Head Office in which members are able to trade amongst themselves.
Director James Loffet said: “The introduction of member shares and dividends is a practical demonstration of our continuing total commitment to our members and shows that we work tirelessly for the success and growth of their businesses. Our loyal members now know they will be rewarded for their support.”