A majority stake in independent cruise retailer ROL Cruise is being granted to staff as the business is transformed into an Employee Ownership Trust (EOT).
Former joint managing director Rosie Cairns will assume the role of chief executive in tandem with the shift to the EOT model.
Sarah Wikevand will work alongside Cairns in her current role as managing director, continuing to focus on strengthening key relationships and expanding strategic collaborations with its commercial partners.
Former chairman Jez Dickinson will join the board of the corporate trustee, where he will continue to contribute his expertise to the company’s overall direction.
The move to an EOT is designed to safeguard the independence of ROL Cruise, “ensuring the company’s legacy remains in the hands of the loyal staff who have been pivotal to its success,” a company statement said.
“With this new ownership model, ROL Cruise aims to foster long-term stability, protect jobs, and provide enhanced opportunities to share the future successes of the business with its team.”
Based in Colchester, Essex, the company currently employs 138 people.
The firm claims a staff retention rate of 98% and average length of service exceeding seven years.
More than half of employees have been with the company for more than five years, while 34% have worked for a decade or more at the company, while one staff member has been with the team since launching in 1995.
The milestone comes ahead of its 30th anniversary in 2025.
Cairns said: “As we approach our 30th year, we are excited to celebrate our heritage and our fantastic staff.
“By becoming an employee-owned trust, we are securing the future of our company, our culture and, most importantly, the future for our incredibly loyal and experienced team.
“This transition is intended to provide long-term stability by maintaining our independence, while also creating new employment opportunities.”
She added: “As a major employer in Colchester and a recognised leader in the cruise travel industry, we are committed to supporting the local economy and maintaining our reputation for excellence.
“The move to employee ownership is a strategic investment in the future, empowering our dedicated team to help shape the company’s direction while staying true to our core values of customer service excellence. It’s an incredibly exciting time for all of us.”
Dickinson added: “I am delighted to leave this legacy as we transition ROL Cruise into an employee-owned company.
“It’s been a fantastic 20 years leading the business, and now feels like the perfect time to hand over the reins to the next generation.
“I have every confidence that the incredible team will continue to shape ROL Cruise’s future with the same passion and dedication that have brought us to this milestone.”