The co-founder and owner of British hi-fi company Rega Research, Roy Gandy, has gifted all of his shares in the business to an employee trust.

Gandy was among a trio of founders of the Essex company in 1973. It today makes and sells turntables, amplifiers, CD players, loud speakers, cartridges, styluses and tone arms, among other products. 

Gandy continues to work R&D and sales, described as “the two areas he enjoys the most”.

The company revealed in recent days than on October 28 “Roy Gandy gifted 100 per cent of his shares (full ownership) of the company to a Trust to protect Rega long into the future”.

It was described in a press statement as an “incredible gesture” and that Gandy “receives zero financial gain” by changing the strucutre of Rega into an Employee Ownership Trust (EOT). 

Rega Planar 3 turntable.

“Becoming an EOT has many advantages, however, the main reason is to protect our culture and decades of hard work,” the company said. “Becoming an EOT prevents the company being sold and potential buyouts (by the dreaded investors) whilst providing all staff with job security going forward.”

Rega prides itself on “producing high performance, affordable, two channel hi-fi, which lasts a lifetime”.

“We never bow to industry pressure and actively work on being different from other companies. Focusing on this niche marketplace is the cornerstone of our company culture.”

The company said “nothing will change on a day-to-day basis; the Trust now owns Rega on behalf of all employees … All Rega employees become beneficiaries (this is called Indirect Ownership)”. 

The Trust does not take over the running of Rega but “will be involved in key decisions”. 

Roy Gandy remains the sole director.