Succession International
How to choose your stewards
The people who hold the votes matter more than any clause. What to look for, how to choose, and how to plan for the day someone leaves.
1 min read
What a steward needs
A steward holds voting rights as a responsibility, not an investment. Good stewards tend to share three qualities:
- Closeness — they know the business, its people and its customers from the inside.
- Judgement — they can weigh the long term against the short term, and say no to a tempting offer.
- Commitment — they intend to stay, and to hand over well when they go.
Who usually becomes one
In most companies the first stewards are the founder and the managing directors. Some add long-standing senior employees, or an experienced outsider. Family members can be stewards if they are active in the company and chosen under the same rules as anyone else.
How the next ones are chosen
Write it down before you need it. Common approaches:
- Co-option — existing stewards choose new ones, often by a qualified majority.
- Board nomination — a supervisory board proposes; stewards confirm.
- Guardian confirmation — the guardian foundation checks that a candidate meets the criteria.
Planning for departures
The articles should say what happens when a steward retires, leaves the company, falls ill or dies: their voting share passes to a successor or is bought back at nominal value. The rule protects everyone — including the steward’s family, who will not inherit a responsibility they never asked for.
- Written by
- Baltic Stewards
