A Cornish energy company is set to become 100% employee owned after its founders announced their retirement.
Mark Bolitho and Paul Smith are stepping down 35 years after founding Penryn-based Blue Flame.
This transition to employee ownership will take place from April, with long-standing employees Matt Dennison and Grant Doe being appointed as company directors.
Having begun their careers with Blue Flame more than 20 years ago, Dennison and Doe are long-established staff members, joining the heating, renewable and electrical company in the early days.
Bolitho said: “We have always considered our incredible team the backbone of our company’s success. Transitioning to an employee-owner model is Blue Flame’s proactive commitment to preserve our identity, promote employee well-being and provide long-term stability.
“Employee ownership aligns the interests of our workforce with our long-term business goals, fostering a sense of shared responsibility, innovation and commitment.”
Dennison added: “We have spent over 20 years of our lives dedicated to Blue Flame, working closely under Mark and Paul whilst progressing through the ranks taking the time to understand every angle and aspect of the business.”
