a little good news (from Oregon)

Tuesday, February 16, 2010, 9:56am PST
Employees now own Bob’s Red Mill Natural Foods
Portland Business Journal

Bob Moore turned 81 on Monday. To celebrate, he gave his company to his employees.

The long-time CEO of Bob’s Red Mill Natural Foods launched an employee stock-ownership program, effectively making Bob’s Red Mill a company owned by its 200-plus employees.

“It’s been my dream all along to turn this company over to the employees, and to make that dream a reality on my birthday is just the icing on the cake,” Moore said in a news release.

The announcement was made Monday during an all-company meeting at the Bob’s Red Mill headquarters in Milwaukie.

Moore said the shift to an ESOP won’t change the make-up of the company.

He and his wife, Charlee, founded the company in 1978, growing it into a successful provider of whole-grain food products. In the past decade, the company has averaged annual growth between 20 percent and 30 percent.

Chief Financial Officer John Wagner said that the ESOP will help recruit new talent while also setting up a succession plan once Moore — who remains active in daily operations — steps down.