The Inspiring Story of Bob Moore Gifting His $100 Million Company to Employees
The founder of Bob’s Red Mill,Bob Moore passed away at the age of 94,leaving an legendery legacy of hardwork ,kindness and generosity towards his employees.Before his death ,this trail blazing CEO made the remarkable decision to transfer full ownership of his multi million dollar company to more than 700employees.
Moore's Humble Beginnings and Rise to Success
From working as a gas station attendant and JC Penney store manager, Bob Moore founded Bob's Red Mill at age 49. Through sheer grit and an unwavering people-first philosophy, he built it into a leading whole grain food company earning over $100 million in revenue annually by 2018. His commitment to providing nutritious products made Bob's Red Mill a beloved brand across 70 countries with over 2000 products.
Putting Employees First: The Heart of Moore's Leadership
Despite becoming a billionaire, money was never the motivation for Moore. As he said, "I learned about 70 years ago how important hard work and kindness are to success." Living by the principle to "do unto others," Moore fostered an environment where his employees felt valued and cared for.
The Game-Changing Employee Stock Ownership Plan
On his 81st birthday in 2010, Moore unveiled an employee stock ownership plan (ESOP) for his then 209 employees. As the company grew to over 700 staff, he updated the ESOP to progressively transfer 100% ownership to the employees before his passing. This incredible act cemented his selfless, employee-first legacy.
"His respect for others will always be an inspiration," said the employee-owners mourning Moore's loss. They vowed to uphold his vision of providing wholesome nutrition through the company he lovingly handed over to them.
Bob Moore's story serves as a powerful case study on how prioritizing employees can fuel a company's growth and leave an indelible, inspiring mark on the business world.
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