In manager magazin, dtb partner Bertold Schmidt-Thomé talks about Yvon Chouinard's entrepreneurial commitment. He transferred all his shares in the outdoor and clothing giant Patagonia, worth around 3 billion US dollars, to a foundation for the protection of the environment. He and his family are thus losing access to the company shares.
As an expert in foundation law and corporate succession, Schmidt-Thomé has a great deal of experience in organising hybrid foundation models that combine charitable and private purposes. One possible approach is the dual foundation, in which entrepreneurial control remains with the family and yet a charitable foundation does good.
Foundation expert Schmidt-Thomé has considerable tax advantages in mind. However, he also points out that a charitable foundation is designed for perpetuity. The entrepreneurial flexibility that the market often requires cannot be achieved with the means provided by German foundation law. Schmidt-Thomé sees a need for political action here.