From www.icaew.com: (UK context) Peter Hollis, founder of Hollis and Co Chartered Accountants, chose an Employee Share Ownership Trust for succession planning to ensure continuity for clients and employees when he eventually retires.

He navigated the complex legal requirements with the help of experts in ESOTs and established a structure that allows employees to benefit from ownership without creating divisions within the staff.

With dedicated staff ready to take on leadership roles, and the ESOT is a positive alternative to a management buy-out.