W Communications Shares Sold To Employees

Warren Johnson, the Founder and CEO of W Communications, has announced that he has sold the majority of his shares in the agency to a specifically-created, government-approved Employee Ownership Trust (EOT).

Financial details of the agreement were not released, however, according to The Middle East North Africa Financial Network, the sale is understood to value the London-headquartered agency at approximately £40m.

In a statement, W Communications said ‘the new ownership structure underscores the agency’s commitment to empowering and rewarding its staff’ with all employees now eligible to receive tax-free bonuses, up to a value of £3,600.

On LinkedIn, Johnson, who will continue in his current role, said, “Some huge news for me and the agency today: I’ve sold the majority of my shares in W Communications to an Employee Ownership Trust, set up to benefit all W employees.

Many offers have come in to buy W over the years, but a sale only made sense to me if it meant my team and colleagues benefited in the long term.

“The option of an EOT was clearly the best way to benefit all parties and set the foundation for another 15 years of growing the agency, a job I aim to continue doing for a long time – or as long as my blood pressure will allow.

“Remaining fiercely independent for as long as we have has meant the company has retained a certain closeness, even when expanding with purchases of LOTUS and Franses Global, and creating our formal investment arm W Capital. To pass the successes on to the people who helped build it is a great honour for me.

It also means our dedication to social mobility is strengthened even more. Anyone part of our WX program who stay on will be part of this trust – further recognition of their talent, hard work and commitment.

Fifteen years. Here’s to fifteen more.“