The European model of SHAREHOLDER FOUNDATIONS : a source of - - PowerPoint PPT Presentation

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Nov 10, 2022 41 likes •229 views

The European model of SHAREHOLDER FOUNDATIONS : a source of inspiration for entrepreneurs Anne-Lise Bance, Project Manager Prophil About us Prophil is a strategic consul ting company dedicated to the mutuall y-beneficialconvergence of

SLIDE 1

The European model of SHAREHOLDER FOUNDATIONS :

a source of inspiration for entrepreneurs

Anne-Lise Bance, Project Manager Prophil

SLIDE 2

About us

SLIDE 3

Prophil is a strategic consul ting company dedicated to the mutuall y-beneficialconvergence

f philanthropic and economic models.

SLIDE 4

General overview

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The first european study on shareholder foundations

GOVERNANCE

strategy

philanthropy

Long term shareholders

transmission

Shareholder foundations

Public interest

HYBRIDity

transparency

industry

majority famil y sustainability profitability giving

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GOVERNANCE

strategy

philanthropy

Long term shareholders

transmission

Shareholder foundations

Public interest

HYBRIDity

transparency

industry

majority famil y

#shareholderfoundations

sustainability profitability giving

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european examples: Denmark and germany

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Shareholder foundationsin europe: key figures

four PROPOSITIONS

TO DE VELOP SHAREHOLDER FOUNDATIONS IN FR ANCE REFORM THE INHERITANCE LAW

3

SHAREHOLDING

1

DECISION-MAKING BODIES

2

ENABLE THE DIREC T MANAGEMENT OF THE FIRM BY A FOUNDATION

4

sweden SHAREHOLDER FOUNDATIONS

1/3

OF THE STOCKHOLM MOX 30 INDEX IS CONTROLLED BY FOUNDATIONS OF THE WALLENBERG SPHERE

SHAREHOLDER FOUNDA- TIONS CREATED EACH YEAR BILLION CAPITALIZED

IN MAJORITY IN SHAREHOLDER FOUNDATIONS SHAREHOLDER FOUNDATIONS25% OF THE SWEDISH ECONOMY USED EACH YEAR BY SHAREHOLDER FOUNDA- TIONS TO THE RESEARCH MILLION

1/3

OF SHAREHOLDER FOUNDATIONS CREATED SINCE 2000 SHAREHOLDER FOUNDATIONS OUT OF THE 15 LARGEST GERMAN FOUNDATIONS

germany SHAREHOLDER FOUNDATIONS

OF THE LARGEST DANISH FIRMS BELONG TO FOUNDATIONS

54%

OF THE MARKET CAPITALIZATION OF THE COPENHAGEN STOCK EXCHANGE OF DANISH SPENDING ON RESEARCH AND DEVELOPMENT

denmark SHAREHOLDER FOUNDATIONS France MAJOR SHAREHOLDER FOUNDATIONS (MAJORITY SHAREHOLDER OR MINORITY BLOCKING) switzerland SHAREHOLDER FOUNDATIONS

€ €

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The denmark case : shareholder foundations as a source of employment and stability

1 ,350

A M O N G 1 4 , 0 0 0 F O U N D A T I O N S

S H A R E H O L D E R F O U N D A T I O N S

20

O F T H E L A R G E S T D A N I S H F I R M S

B E L O N G T O F O U N D A T I O N S

54%

OF MARKET CAPITALIZATION

O F T H E C O P E N H A G E N S T O C K EXCHANGE = €47 BILLION

FINANCIAL WEIGHT

OF SHAREHOLDER FOUNDATIONS

ECONOMIC WEIGHT

OF SHAREHOLDER FOUNDATIONS

10%

OF THE NATIONAL W E A LT H

800

P H I L A N T H R O P I C D O N A T I O N S D I S T R I B U T E D

E A C H Y E A R B Y T H E S E F O U N D A T I O N S MILLION

€

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The novo nordisk foundation

p m

l THE NOVO NORDISK FOUNDATION NOVO A/S (HOLDING) NOVOZYMES A/S NOVO NORDISK A/S Grants Investment in medical research and biotechnology 100 % 25,9% capital 70,5% voting rights DIVIDENDS HOLDINGS 25,5% capital 73% voting rights

m ; s m h

THE CREATION OF SHAREHOLDER FOUNDATIONS WAS A MEANS TO PROTECT AGAINST FOREIGN ACQUISITION”

MARIANNE PHILIP, PRESIDENT OF THE DANISH COMMITTEE ON FOUNDATION GOVERNANCE

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Promoting « patient capitalism » : Shareholder foundations in germany

500 – 1,000

A M O N G 2 0 , 0 0 0 F O U N D AT I O N S S H A R E H O L D E R F O U N D A T I O N S

6 1/3

OF SHAREHOLDER FOUNDATIONS CREATED SINCE THE YEAR 2000

chiffres clés

6

SHAREHOLDER FOUNDATIONS

O U T O F T H E 1 5 L A R G E S T G E R M A N F O U N D AT I O N S

E C O N O M I C WEIGHT

(COMBINED ASSETS) OF GERMAN FOUNDATIONS

100

BILLION

€

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The rob

bert bos
sch fou
undation
n

the foundation ownership

f an industrial powerhouse

THE BOSCH FAMILY 7% OF EQUITY 7% OF VOTING RIGHTS THE ROBERT BOSCH FOUNDATION 92% OF EQUITY NO VOTING RIGHTS THE ROBERT BOSCH GMBH 1% OF EQUITY NO VOTING RIGHTS THE ROBERT BOSCH INDUSTRIETREUHAND KG 0.01% OF EQUITY

(UNDOUBTEDLY THE LEGAL MINIMUM)

93% OF VOTING RIGHTS

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A growing interest in France for shareholder foundations

SLIDE 14 PIERRE FABRE FOUNDATION PIERRE FABRE HOLDINGS EMPLOYEES SELF-CONTROL PIERRE FABRE SA 100 % 7 % 7 % 86 %

WHO OWNS WHAT?

One main example: the pierre fabre foundation

t d y m s

“ THE PHILANTHROPIC ACTIVITIES OF THE FOUNDATION ARE SUBORDINATED TO THE HEALTH OF THE GROUP. WE HAVE A GREAT RESPONSIBILITY FOR ECONOMIC PERFORMANCE.”

PIERRE-YVES REVOL, PRESIDENT

“ THE FOUNDATION’S VERY EXISTENCE PERPETUATES PIERRE FABRE’S HUMANISTIC VALUES”

PIERRE-YVES REVOL AND BÉATRICE GARRETTE, PRESIDENT AND EXECUTIVE DIRECTOR OF THE PIERRE FABRE FOUNDATION

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four PROposals

TO D E VELOP SHAREHOLD ER FOUNDATIONS IN FR ANCE REFORM THE INHERITANCE LAW

3

REFORM THE «PRINCIPLE OF SPECIALIZATION» AND ENABLE FOUNDATIONS MAJORIT Y SHAREHOLDING

1

GIVE FOUNDERS THE MAJORIT Y IN DECISION-MAKING BODIES

2

ENABLE THE DIREC T MANAGEMENT OF THE FIRM BY A FOUNDATION

4

Toward a new status in France … « fonds d’intérêt économique »

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From shareholder foundations to mission-led companies

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« a mission-led company stipulates in its by- laws an extended corporate purpose covering societal issues (enforceable by third parties) » Wi Will tw twenty ty-fi first ce century bu business be be mission

n-le

led ?

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Thanks for your attention

www.prophil.eu www.fondations-actionnaires.eu www.entreprisesamission.eu