What does it mean to entrust a company?

This sentence means that the company has been handed over to others for management.

Corporate trusteeship refers to entrusting the management right and operation right of the company to a third party organization or individual for management. Custody companies are usually managed by professional management teams, including finance, human resources, marketing and so on. This practice can help companies to reduce operating pressure and improve efficiency and professionalism. At the same time, trusteeship can also provide more resources and professional knowledge for the company and promote the development of the enterprise.