Succession Planning
What this is about
You've spent years, sometimes decades, building something that matters to you. What happens to it when you step away? Succession moments belong to one of the most consequential moments in the existence of any company. And yet, many entrepreneurs approach it too late – or with too few options on the table.
The conventional paths are well-known: sell to a strategic buyer, pass it to the next generation in the family, or find a management buyout. Each comes with trade-offs. A sale often means an uncertain future and is often only a last resort. Family succession often no longer works, due to a lack of potential successors. Management buyouts are often difficult to organise, as they also typically involve a sell/buy process, and many potential successors must go into debt to do so.
Steward ownership offers another option here. By separating economic rights from control rights, successors can take over the wheel without having to buy a company’s shares: as stewards. Through a capital lock, the company's independence and purpose-orientation are legally protected, while still allowing fair economic participation for founders, employees, and investors.
The resources on this page are a starting point. They cover the key questions, real examples from companies that have made this transition, and practical tools to help you think it through.
Two principles of steward ownership
Instead of bundling power and money, steward ownership separates them.
Purpose orientation
Profits are a means to an end, not an end in themselves. They serve the company’s mission and development or can be used to fund charitable activities. The value created within the company cannot be extracted by the company owners for their personal benefit.
Self-determination
The company cannot become an object of speculation but remains self-determined and independent in the long term. The steering wheel always remains in the hands of people who are connected to the company and its mission.
What does that mean for succession
The principles ensure that the mission-orientation outlives the founder and that the company is passed on to the next generation of people who are genuinely committed to the company's mission.
Resources on succession planning
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Patagonia
When Yvon Chouinard faced the question of what to do with his $3 billion company, neither selling nor inheritance felt right. Discover how Patagonia worked with steward ownership to protect its mission for generations to come.
Interview with Thomas Bruch (Globus)
Thomas Bruch explains why Globus is “self-owned,” why voting rights are tied to active entrepreneurial roles rather than inheritance, and how steward ownership secures long-term responsibility for the company, its employees, and the communities it serves.
Interview with Michael Hetzer (Elobau)
In this video, Michael Hetzer, who took over the company elobau from his father, talks about why and how he transformed the hidden champion from Germany, into steward-ownership.
Organically Grown Company
Organically Grown Company (OGC), one of the largest organic produce distributors in the U.S., was one of the 1st companies in the U.S. implementing a Perpetual Purpose Trust structure to solve their succession and financing challenges.
Elobau
Find out how Michael Hetzer, second-generation owner of German hidden champion elobau, developed a suitable succession model and established his company as a true lighthouse for steward ownership.
Steward Ownership 101
Your starting point for a different kind of succession planning. Thinking about who takes over and how to protect what you've built? This book walks you through the core principles of steward ownership, concrete legal structures, and real examples from founders who've already made the transition. Whether you're just starting to explore or ready to take the next step.
Still have questions? You're very welcome to join us.
Our open Q&A calls are a relaxed, interactive session where you can ask your questions, listen to others', and get a real sense of what steward ownership means in practice – including for succession.
Join the next info call