Acoustic Sounds
Lyra
Roy Gandy Retires
By: Michael Fremer

November 12th, 2024

Category:

Industry News

Gandy Gifting Full Ownership to Employees in an EOT (Employee Ownership Trust)

Not retiring but magnanimous gesture assures smooth succession and also prevents V.C. vulture buyout

On October 28th Rega co-founder Roy Gandy (the "ga" part of the company name) gifted 100% of his shares (which represents full company ownership) to his employees as part of an EOT arrangement. Read the statement below and be amazed and if you are a Rega turntable owner, a dealer or distributor, be assured. Hopefully other companies will do likewise or follow a similar path. Given the hollowed out, sad states of some other veteran companies have become under venture capital ownership—and I could name names but won't here—let's hope this becomes a succession model.

Comments

  • 2024-11-12 02:22:47 PM

    Chad Stelly wrote:

    I guess we can hold off on that notion of someday having a Rega branded Record Cleaning Machine.

    Seriously though, what a wonderful display of integrity & leadership!

  • 2024-11-12 03:21:29 PM

    Adrian Galpin wrote:

    What a great guy Mr Gandy is. I wish him a long, happy and music-filled well earned retirement.

    • 2024-11-13 07:59:02 PM

      Michael Fremer wrote:

      I was wrong: he didn't retire. He just created the trust but he's still working!

  • 2024-11-12 05:40:41 PM

    Michael Kaye wrote:

    Very nice and inspiring. There ARE alternatives to greed after all.

  • 2024-11-12 06:59:57 PM

    Jim Shue wrote:

    Rega (and Linn) show the way for British companies remaining British - unlike the list of sell outs over the last three decades (KEF - B&W - Quad and sadly Naim, the worst sell out of all imo _ Julian Vereker would have never sold to Focal and then on the French (!) Private Equity types - bleh)

    Kudos to Roy Gandy for respecting his employees! I wonder what the succession plans are for many other brands in High Ned Audio?

  • 2024-11-13 01:42:28 PM

    tim davis wrote:

    Very cool! A bit ironic though that Roy turned out to be more detachable than his tonearm headshell mounts, heh-heh.

  • 2024-11-14 03:21:30 PM

    Jeff 'Glotz' Glotzer wrote:

    Roy Gandy is an angel and has the right politics and business in place here.

  • 2024-11-20 12:14:54 PM

    Glenn wrote:

    An amazing display of selflessness in today's world. If I was in the market for a new TT it would definitely be a Rega.

  • 2024-11-20 12:14:57 PM

    Glenn wrote:

    An amazing display of selflessness in today's world. If I was in the market for a new TT it would definitely be a Rega.