The EngD is equivalent in academic standing to a PhD, and includes taught coursework in areas such as management, personal development and technical areas. The EngD aims to provide a more vocationally oriented doctorate that meets the needs of industry. The traditional UK PhD contains little or no taught element.
I'm afraid we can't comment on whether the EngD has been successful in providing industry with the high-flyers it was designed to create. Hopefully some people who have done, are doing or have recruited EngDs will add their views.