Pernod Ricard creates employee share ownership scheme

Jameson owner Pernod Ricard has launched an employee share ownership scheme, allowing 75% of its workforce to invest in the business.

Jameson owner Pernod Ricard has launched a share ownership scheme for its workers

The scheme, called Accelerate, is in line with the French firm’s three-year strategic plan and will be available to 75% of Pernod Ricard’s workforce across 18 countries.

As part of the scheme, eligible employees will be able to purchase Pernod Ricard shares under “favourable terms” as part of a group savings plan.

Employees will be able to purchase shares for 80% of the average opening price of Pernod Ricard shares on the Euronext Paris market. The price for each share will be set on 13 June.

The shares sold to workers will come either from treasury shares or from the implementation of a share buyback programme decided by the board of directors on 21 November 2018.

Alexandre Ricard, chairman and CEO of Pernod Ricard, said: “Our growth has already reached a certain level and the aim of our three-year Transform & Accelerate plan is to take us further and faster on our way to leadership. This ambition cannot be achieved without fully associating our employees, as they are the driving force behind this growth.

“Over 50 years ago our founder, Paul Ricard, was a pioneer in the field, offering Ricard employees innovative profit sharing and company savings plans. We are delighted to maintain this culture, which places the concept of sharing at the heart of our model and our performance.”

Earlier this year, Pernod Ricard announced that its 2018/19 nine-month sales climbed 6.3% to €7.18 billion (US$8.07bn), driven by Martell Cognac and Jameson Irish whiskey.