Interview with David BELLAICHE (Chief Executive Officer of Althéa and Vice President of Alan Allman Associates).
Q: David BELLAICHE, can you explain why you chose to promote employee share ownership from the creation of Althéa?
David Bellaiche: “First of all, Philippe PAUWELS and I have always been strong advocates of employee share ownership. From the firm’s creation in April 2005, we launched a campaign to enable our employees to easily become shareholders.”
Shape 2025: An Ambitious Project
Q: In April 2020, you launched the Shape 2025 strategic project. What were its objectives and how did employee share ownership play a role in this context?
David Bellaiche: “The Shape 2025 plan was very ambitious, with numerous objectives and challenges. To engage our middle management in this project, we relied on employee share ownership as a mobilization tool.”
Mobilization and Success During COVID-19
Q: What was the reaction of your managers and senior managers to the opportunity to become shareholders of Althéa, especially during lockdown?
David Bellaiche: “In the midst of the second lockdown, we offered our managers and senior managers the opportunity to purchase Althéa shares without any obligation. The participation rate was a real success, with over 90% of Managers and above becoming shareholders, reflecting their confidence in the company’s strategy. Today, 20% of Althéa’s capital is held by Employee shareholders.”
An Annual Mechanism for Reinforcement and Liquidity
Q: How does the share ownership reinforcement mechanism work within Althéa?
David Bellaiche: “Each year in June, we launch an operation to enable newly promoted and hired managers to become shareholders. This also allows existing shareholders to strengthen their position. It is also an opportunity for some to sell all or part of their shares to finance a personal transaction such as purchasing their primary residence or their wedding. This also provides good share liquidity.”
Looking Ahead: Opening Capital to All Employees
Q: How do you envision the future of share ownership at Althéa, particularly regarding opening capital to all employees?
David Bellaiche: “We will begin working in early 2025 on Althéa’s next strategic plan, which will set our direction through 2030. This will be the right opportunity to open discussions about extending capital ownership to all employees, which is an exciting prospect.”
