HarrisonParrott sold to employees

Arts management agency HarrisonParrott has announced the sale of the company to an Employee Ownership Trust (EOT). The sale is part of co-founder Jasper Parrott’s succession plan which also sees his daughter Moema Parrott take up the role of CEO.

Effective from next week, the majority of the shares in HarrisonParrott will have been sold to the EOT and the company will be largely owned by its employees. With this latest move, HarrisonParrott has become the first company in the classical music sector to transfer majority ownership to its employees. Incoming CEO Moema Parrott has been with the business for more than 11 years and has been serving as acting CEO since March. Following 54 years at the helm, Jasper Parrott will continue to influence the company’s strategic vision in the role of executive chairman.

Jasper Parrott said: ‘As we enter the next phase of our history, I look forward to continue guiding the creative vision of HarrisonParrott, in the full service of our artists and company as a whole. I am deeply appreciative of the talent, dedication and loyalty that now three generations of HarrisonParrott employees have brought to this company. It therefore feels only right that ownership of this great company should now be shared among all of our staff, so that we can all join together to build the next chapter of HarrisonParrott.’

Co-founded by Jasper Parrott and Terry Harrison in 1969, HarrisonParrott now manages more than 200 artists globally with a team of 102 staff across London, Paris, Munich, Madrid and Beijing. Many of the employees now taking ownership of the business have been with HarrisonParrott for over 25 years.

In a press release published today, the company describes the new EOT ownership structure as ‘supremely suited to HarrisonParrott’s ambition and a way to futureproof the business.’ The decision is also described as a way to ‘ensure that employees’ motivation and interests are closely tied to the future development and success of the business’ and ‘harness their commitment, talent and creativity to ensure continuity.’

Moema Parrott, who brings to her new role more than 20 years’ experience in talent development, marketing, and acquisitions across music, TV, and film, said: ‘As the new CEO, I will stay true to Jasper's core values and our shared artist centric approach, empowering and championing our world-class artists and international teams, with the aim to expand and strengthen the HP Group and associated companies as we focus on building new and diverse audiences.’