#1 A Decade Building an Employee‑Ownership Mindset – A Conversation with Chris McDermott

In this episode of Stake & Soul, Barry sits down with Chris McDermott, former Chair & CEO of Cambridge Nutritional Foods (CNF) and Chair of the UK Employee Ownership Association (EOA), for a candid conversation about what employee ownership looks like in the real world. 

Chris shares the behind-the-scenes reality of moving from a traditional ownership structure into employee ownership, what surprised him most once they were “properly” on the other side of the transition, and why the work does not stop when the paperwork is done. 

What’s covered

• Chris’s unusual career path (including a few pivots) and how it shaped his leadership approach. 
• How employee ownership arrived on his doorstep, plus the early scepticism that changed after seeing EO up close. 
• The shift from “we’ve become employee-owned” to “it finally feels real”, including the role of debt payoff and accountability. 
• A hard-earned lesson on governance: what happens when roles, decision rights, and power centres are not properly codified early enough. 
• Practical insights on building owner mindset, making the intangible tangible, and communicating financial performance without turning every update into a lecture. 

The people side of employee ownership

Chris and Barry also explore the parts EO advocates do not always lead with:

• Why communication in EO can feel like a bottomless pit (and how they try to handle it). 
• How “voice” works in practice: employee voice groups, a council structure, and how ideas become actions (not just complaints). 
• The tension between being an “owner” and facing the realities of tough commercial decisions when the business needs to change. 

A big transition is coming

Chris reflects on preparing to step down after a decade as CEO, the internal logic behind that decision, and why a clean handover matters, especially in an employee-owned business. 

Quickfire moments and a leadership read

Towards the end, you’ll hear a quickfire section that lands on a simple but meaningful truth. 

Chris also shares a book that had a genuine impact on how he handled imposter syndrome and high-pressure leadership. 

If you’re a business owner exploring employee ownership, this one is full of grounded lessons, honest trade-offs, and ideas you can actually take back to your own leadership table.

Disclaimer:

The following podcast is intended to be of a general nature, will not be suitable for everyone, and should not be treated as a specific recommendation. We recommend taking professional advice before entering into any obligation or transaction.

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