Big changes ahead for Confex
New year to herald radical changes for buying group
Confex is radically overhauling its corporate structure for 2020, with members becoming shareholders in the group for the first time.
Every member of Confex will receive a share in the buying group business and will play an integral role in group’s future direction. In addition, all profits made by head office will be shared among the membership, according to each member’s contribution to the group turnover.
“The introduction of member shares and dividends is a practical demonstration of our continuing total commitment to our members and shows that we work tirelessly for the success and growth of their businesses. Our loyal members now know they will be rewarded for their support,” said James Loffet, Confex director.
Another new addition is a Board of Directors comprising four representatives from the membership and four members of the Confex management team. The role of Chairman, created earlier this year for ex-Landmark MD Martin Williams, will also become a permanent role.