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Torrent Group is an Indian multinational conglomerate, based in Ahmedabad. It was founded by Uttambhai Nathalal Mehta , [ 1 ] and now run by his sons, Sudhir and Samir Mehta . [ 2 ] The core businesses of the group are gas, pharmaceuticals and power. [ 3 ]
These are companies totally or significantly owned (directly or indirectly) by their employees. [1] Employee ownership takes different forms and one form may predominate in a particular country. For example, in the U.S. over 5,700 of the roughly 6,400 employee-owned companies have an Employee Stock Ownership Plan (ESOP). [2]
Employee ownership is a way of running a business that can work for different sized businesses in diverse sectors. [6] Employee ownership requires employees to own a significant and meaningful stake in their company. [7] The size of the shareholding must be significant.
It doesn’t mean that a company is completely 100% owned […] Click to skip ahead and jump to the 5 largest employee owned companies in the world. Before we start, let’s first establish what ...
A new book highlights benefits of moving to an employee-owned business.
An Employee Stock Ownership Plan (ESOP) in the United States is a defined contribution plan, a form of retirement plan as defined by 4975(e)(7)of IRS codes, which became a qualified retirement plan in 1974. [1] [2] It is one of the methods of employee participation in corporate ownership.
Torrent Pharmaceuticals was established in 1959 by U. N. Mehta as Trinity Laboratories. It was renamed as Torrent Pharmaceuticals in 1971. [5] In 1997, Torrent Pharma and Sanofi established a 50:50 joint venture called Sanofi Torrent for selling Torrent Pharma's products. [6] Torrent exited the joint venture by selling its stake to Sanofi in ...
An employee ownership business model is a way of achieving benefits for a business, its employees, and society. [4] The trust model has the following characteristics in comparison to employee ownership models involving direct employee share ownership: [5]