'World's best boss' praised for gifting his employees £3.3million after starting business 'in small flat'
A boss dubbed the 'world's best' handed out a share of over £3 million to his employees after selling the business.
Pedro Pestana, founder of technology firm Marosa, has been praised for showing his appreciation for his staff who helped him make the venture a success.
After starting up the business from a small flat some years ago, Pedro decided to give his employees a share of the proceeds after agreeing a lucrative deal with multinational company Wolters Kluwer, according to reports.
Reports suggested that after agreeing to sell the company, for approximately €112 million, (£93.7 million), Pestana set aside almost €4 million (£3.3m) from his personal share of the deal to distribute among 20 employees.
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The recognition was not reserved for staff who had worked at the firm longer either, as a minimum payment was established for every member of staff.
Explaining his decision, he said: "Marosa was built through the hard work of many people. Sharing the proceeds from the sale is a way to acknowledge that contribution and to give back to the team a portion of what they helped create."
He went on to say that he hoped his decision could encourage other business owners to consider showing their appreciation for their work teams after videos of the exchange were posted online.
"Every company and every transaction is different. I would like someone who is preparing to sell their own company to learn about this experience and consider whether they could do something similar with their own team," he said.
And announcing the sale of the business, a European financial technology and tax automation company, Pedro thanked those who supported him since the venture first started.
He noted how he built up the firm from humble beginnings in a small flat when living in the UK.
He added: "I am proud to share the biggest milestone in our history.
"I started this business in a small flat during my final years in the UK. It all moved slowly at the start, with me building content on the website for fun and hopefully creating some visibility.
"Soon, I got my first client, then a second one, then employees, a small office and then I moved back to Spain to continue growing the business in my home city.
"We went from manual Excel files to processes, to software, to a global tax technology offering VAT compliance and e-invoicing.
"Before I knew it, the team was running daily work independently."
Topics: Money, Business, World News
James Holt