
Journey To Regeneration
Steward Ownership: Redesigning Business for Long-Term Purpose
In this episode of Journey to Regeneration, Christopher Marquis speaks with Esther Welles, co-founder of We Are Stewards, an organization advancing steward ownership as a new approach to business governance and long-term purpose. Steward ownership challenges the assumption that companies must ultimately be controlled by financial owners seeking maximum returns. Instead, it separates voting rights from economic rights so that control remains with people committed to protecting the company’s mission. Esther explains why ownership structures are often overlooked in sustainability discussions, even though they determine whether regenerative commitments can survive changes in leadership, investment, and market pressures. The conversation explores examples including Patagonia, Bosch, Novo Nordisk, and steward-owned companies in Denmark and the Netherlands, as well as different models such as foundation ownership, shareholder foundations, and golden shares. Esther also discusses the challenges entrepreneurs face when transitioning ownership, the importance of mission-aligned investors, and the need to educate lawyers, financial advisors, and other ecosystem actors about alternative ownership models. The discussion highlights a broader question for regenerative business: if companies are meant to create long-term value for society and the planet, how should ownership itself be redesigned to support that purpose? Learn more about your ad choices. Visit podcastchoices.com/adchoices

