Genesis Corporation: St. Luke Company: The Super Alternative of the Sauce Era

Author: Andy Law
Publisher:
Publish Date: 2000-11-01
Features: St. Luke's Advertising is a unique employee-owned company in the UK. It was the London branch of the renowned US advertising agency Chiat/Day. When Chiat/Day was acquired by the multinational company Omnicom in 1995, the London branch of Chiat/Day rebelled, declaring independence from its parent company and forming a new firm, which caused a huge stir in the global advertising industry. The author, Andy Law, was originally the General Manager of the London branch of Chiat/Day. To protect the interests of all employees from harm, he organized and planned the action to break free from the acquisition. He bought back the company with one pound and 10% of the annual profits, creating a "collective ownership" enterprise in the traditional capitalist country of the UK, where every employee held an equal share of the equity. Based on ideals, he established a completely new set of management methods centered on human value rather than the value of money. St. Luke's Advertising created a successful miracle in Western advertising and all businesses, achieving annual revenues of ￡90 million for several years and becoming a spectacular phenomenon in the trend of corporate model transformation in the West.