this post was submitted on 17 Jun 2024
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Really wish they transitioned to a "Not-for-profit" structure, rather than non-profit. Non-profits can still be profit driven, sadly.
They specifically chose non-profit because it allows them to remain profit driven, and continue to run the company as they have. The non-profit is the main shareholder now, and required by law to act in the interest of its founding principles. They basically did this for PR, because now, working in their customers' best interests is mandatory, and they are protected against hostile takeovers
Weren't they protected before? Afaik their major shareholder was the Swiss government.