Titel

Steward ownership is a form of business ownership that is gaining international traction. In steward-owned businesses, there are no traditional shareholders. Instead, control is held by stewards who have no entitlement to the business’s profit. Profit therefore becomes a means to achieve the organization's purpose, rather than an end in itself.  

Worldwide, various approaches are emerging to embed this concept in legal frameworks, drawing on company law, foundation law and trust law. In some countries, designated laws for steward-owned businesses are under discussion. In 2024, at the request of three rapporteurs in the German parliament, an independent academic working group chaired by Prof. Dr. Anne Sanders presented a new draft law to establish a "steward owned company" as a distinct legal form.

The German draft law can be found here open access: https://www.mohrsiebeck.com/buch/gesetz-zur-einfuehrung-einer-gesellschaft-mit-gebundenem-vermoegen-9783161640773/

The concept is also discussed in other countries. In 2022, Patagonia adopted a steward ownership structure. In April 2024, the Dutch Parliament decided to work towards a legal form for steward ownership. For a discussion in English see: Sanders/Neitzel, Steward Ownership – Concept, Potential and Implementation in Germany and the Netherlands, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=517836

Closely connected to the topic is the long tradition of Enterprise Foundations, which have a long tradition especially in Denmark, where important companies such as Novo Nordisk and Carlsberg are controlled by foundations. 

With renowned Prof. Dr. Steen Thomsen from Copenhagen Business School https://www.cbs.dk/en/research/departments-and-centres/department-of-accounting/staff/stint 

Prof. Dr. Anne Sanders is reporter in the ELI Projekt „Enterprise Foundations in Europe“ https://www.europeanlawinstitute.eu/projects-publications/current-projects/current-projects/eli-enterprise-foundations-in-europe/