Co-founders create new trust to hold the majority of the shares on behalf of the workforce.
The co-founders of Aardman – Peter Lord and David Sproxton – are making the Bristol-based studio an employee-owned business.
A stake of over 75% in the business will be handed to its 140 employees in a bid to protect the independence of the company.
Employees will own the majority stake in the business via a newly established Trust, which David described as “the best solution we have found for keeping Aardman doing what it does best”.
He said in a statement: “The sale to the Trust ensures that Aardman will remain independent, not governed by remote shareholders, thus securing the creative legacy and culture of the company for many decades to come.
“Aardman’s excellent senior management will remain in place, becoming a new Executive Board and ensuring a seamless transition for the studio from founder-owned to employee-owned.”
Oscar winning director Nick Park will continue to have an active role in the studio’s feature film and shorts productions. Nick will be part of the new Executive Board of Directors, which reports to the Board of Trustees.
In addition to Nick, other members of the Executive Board of Directors include Sean Clarke (executive director, rights and brand management), Sarah Cox (executive creative director – intellectual property development), Kerry Lock (finance director), Paula Newport (director, people and culture), Carla Shelley (executive director, feature production) and Heather Wright (executive director, partner content).
David will remain in his role as managing director for the next 12 months, during which time a successor will be appointed and David will move into a consultancy role and join the board of the Trust.
Peter will remain in his role as creative director and will continue to oversee Aardman’s feature film output.
Upcoming projects include Shaun the Sheep Movie: Farmageddon (due in autumn 2019) and Chicken Run 2.
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