A company should serve its own purpose
Steward-ownership is a way of creating the foundation of ownership of a company. The core of steward-ownership is that a company is 'self-owned' and exists to serve its purpose. Steward-ownership is the best way to safeguard a company's purpose.
Steward-ownership principles
Self-governance
Voting rights are in the hands of stewards who are close to the company. Voting rights cannot be sold.
Profit serves purpose
Profits cannot be privatized and are reinvested in the company or donated to serve the mission of the company. Investors and founders are fairly compensated.
Stewards
Stewards who are close to the mission of the company, have the responsibility for the company's development. They (temporarily) hold the formal voting rights that normally lies with shareholders. Stewards have no incentive for profit maximisation.
Investors
Investors participate in the company's purpose. They have no or limited control over the company's course. This way profit follows purpose. Profit is distributed to investors or reinvested in the company according to transparent agreements.
Purpose
The company exists to serve its purpose. With the elimination of short-term incentives for profit maximization and putting the purpose front and center, the company can fully focus on realizing its long term goals and maximizing positive impact.
Guardianship
The steward-ownership structure is enshrined and protected, for example by issuing a golden share to a foundation. This can prevent the company from being sold as a commodity in the future.
Steward-ownership models
The principles of steward-ownership can be legally implemented in various ways. The three main models:
Golden share
Voting rights are held by stewards and can never be sold. Investors can however obtain economic rights. A foundation holds a golden share to safeguard the structure. An example of a Dutch company using this model is Moonback.
Neutralised capital
The economic ownership over the company is held by a foundation. The capital of the company is in this way 'neutralised'. The voting rights are held by stewards and can never be sold. An example of a Dutch company using this model is The Shore.
