A CEO this week gave his entire company to the workers who’ve made his natural food company the success that generates revenues exceeding $20 million a year.
Founder of Bob’s Red Mill Natural Foods, Bob Moore, turned 81 on Monday, Feb. 15 and announced the news to his employees in Milwaukie, Oregon.
With everyone at his birthday celebration and on behalf of his partners in the business, Bob announced that through the creation of an Employee Stock Ownership Plan (ESOP), Bob’s Red Mill is now an employee-owned company.
“We believe our employees are the finest people in the natural foods business, and by offering our current and future employees an ownership in the company we will continue to retain and attract the best.”
“It’s been my dream all along to turn this company over to the employees,” said Mr. Moore. “I get to spend every day with our many loyal and long-time employees who will now share in ownership, and it just thrills me to know they will be joined by many new faces over the years.”
“The partners could have sold this company many times for a lot more money, but to them this company is about so much more than the money,” said Operations VP Dennis Vaughn. “I’m just proud to wear the Bob’s Red Mill logo because anywhere I go in this country people say nice things about the company.”
“Bob is basically passing the entrepreneurial torch on to his employees and is instilling in us that hard work provides rewards,” said Roger Farnen, a Quality Assurance Manager.
Bob’s Red Mill Natural Foods produces more than 400 products, including a full line of certified gluten free products and an extensive line of certified organic products.
(Read more at OregonLive.com)