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How the late Bob's Red Mill founder avoided selling out to a food giant and instead transferred ownership to his 700 employees (www.businessinsider.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 9 months ago

This is the best summary I could come up with:

Moore, who was 94 when he died, founded Bob's Red Mill with his wife, Charlee, in Oregon in 1978.

In the decades that followed, the couple grew their whole-grain food company into a global empire that did more than $100 million annually, selling over 200 products in more than 70 countries.

When asked why he chose an employee-owned model during an interview with Portland Monthly last year, Moore, who was Christian, cited the bible.

"The more everyone organizes and works hard, the greater the profitability of the company, and that translates into higher value of ownership," Moore told Portland Monthly.

In 2022, when some business leaders were complaining about a labor shortage, Moore said executive greed was to blame and that more companies could adopt the ESOP model, Fortune reported.

He said employees at Bob's Red Mill feel valued and informed, an approach other companies could learn from.

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