There is no standard steward-ownership format, but it has several requirements. The company’s statutes, the shareholders’ agreement and the regulations of the board of directors are a priori updated so that the model works.
The mission of the company must be included in the statutes. “This document is public and its modification is made before a notary and only following a general meeting. Include the most precise objectives possible so that the board of directors does not deviate,” specifies Michel Jaccard, co-founder of Id Est Avocats. For example, we will notify the x% reduction in carbon emissions or plastics, the x% increase in women in management or the refusal to work with certain partners who are harmful to the planet.
In the shareholders’ agreement, the rules for the transfer of shares and the terms of distribution of profits will be included. We can thus plan a part for the mission and a part reinjected into society. This agreement can easily be modified, hence the interest in providing a “mission lock” to protect your mission.
Granting individual veto rights to different stakeholders (employees, customers, representatives of an environmental association or mediator such as Purpose) is also a possible strategy.
