Introduction

At Torchbox, we're proud to be employee-owned. When a company is owned and run by the people who work for it, it can serve not just the pursuit of profit, but also people, purpose, and long-term impact.

Torchbox isn't privately owned by shareholders or publicly listed; it is owned by the people who work here, through an Employee Ownership Trust (EOT) that holds 100% of the company's shares on behalf of all co-owners. We don't just do the work, we also have a voice in how the business is run, how rewards are shared, and how the future is shaped.

Co-owners get to benefit from profit sharing, representation, and influence without holding shares in their own name.

International Associates, who work with us long-term in countries where we don't have a legal entity, are, as much as possible, treated like co-owners - they participate in profit sharing, voting in Trustee Director elections, and are part of our internal communications and events.

Profit still matters, but not at any cost. We aim for sufficient profit: enough to sustain the business, invest in its future, and reward the co-owners who help create it.

This Constitution turns our ownership model into something practical and accountable. It reflects the particular values that have shaped our approach to employee ownership. It may not look the same as the model used by other EO businesses.

The Constitution is built to last, focusing on principles rather than policies. Day-to-day details can be found on the intranet. It is a reference for understanding how things work, resolving questions, or addressing concerns. It can be used to hold ourselves, fellow co-owners, and leadership to account. It won't answer everything, but it will provide guidance. It is a reference, not a page-turner; something to return to whenever we need it, and it helps us to stay aligned with the principles on which the business was built.

Employee ownership is a learning journey, so this Constitution is a work in progress. It will evolve to safeguard our company and strengthen our culture for the Co-owners of the future.