What motivated you to start giving?
From my grandfather during World War II, my parents growing up in the post-war period to my children and myself today, our family history has been defined by strong values. As a family, we strongly believe in integrity, putting our trust in people, local roots as well as contributing to our community.
Our family business has been very active in helping our local community grow and providing opportunities for young people in the region whilst being respectful of our environment. As a family working in the timber sector for several generations, we live with nature all around us. Having a long-term perspective is key to our entire business and our family.
Passing down the company and its values between generations – from my grandfather to my father and then onto me – was simple. However, whilst my children share the same values, their interests lie elsewhere and they want to pursue other career paths.
With this in mind, we turned to a model that is common in other countries, in Denmark for example, the shareholder foundation. The philanthropic structure we created – an endowment fund - will become the controlling shareholder of our business when I retire. My children will remain part of the fund’s governance and a non-family member will take over the Managing Director role.
Anticipating this change in governance was the perfect opportunity to ensure the continuity of our family values. The fund will ultimately own 70% of the company and reinvest the dividends it receives in projects and causes that my family and I believe in. I could have sold the company and made an immediate financial profit but I strongly believe in doing something better for our community and for the world. This fund is my way to maintain my family’s interest in the company as well as supporting a number of key philanthropic objectives that are important to my children and myself.