Business ISP IFB Restructures Following Management Buyout

Aberdeen-based UK broadband and telecoms provider Internet for Business (IFB) has confirmed that a partial management buyout has taken place from its founder and Chairman, John Michie, resulting in a restructuring of share ownership.

The details of this move are still unclear, although the restructure sees an investment in the business coming from IFB’s CEO, Graeme Gordon, and its Non-Executive Director, Jane Stewart, as well as the creation of an employee share ownership scheme.

IFB’s CEO, Graeme Gordon, said: “This is a strong, positive move for IFB and all our stakeholders. We believe the new ownership structure creates a fantastic opportunity as one team to accelerate our strategic plans. IFB has created innovative and world class digital infrastructure, designing and delivering digital services globally for some of the world’s largest businesses.”

“The confidence to do so comes from the strong team foundation we have at IFB and we’d like to thank our Chairman for his support and hard work over many years getting IFB to this stage in our growth. We are collectively excited for IFB’s continued success with a motivated team having a greater voice and an essential role in shaping the future for IFB, as we continue to innovate and disrupt in our core markets.”