Succession Planning
What this is about
Succession moments belong to one 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.
Principles of steward ownership
Instead of bundling power and money, steward ownership separates them.
Purpose orientation
Self-determination
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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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, 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.
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.
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 stewardship-ownership.
Patagonia
This article looks at Patagonia’s transition to steward-ownership – sparking debate and inspiring entrepreneurs worldwide.
Toolkit on steward ownership
Do you need more than single resources, but a whole, practical guide, helping you to find out if steward ownership is the right decision for your company? And support you to go the first steps towards implementing the model? Click below to open our toolkit for steward ownership!
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