30 Jun BOB MOORE, FOUNDER OF BOBS RED MILL PRODUCTS
Bob Moore, founder of Bobs Red Mill Products
How would you like to get a company as a gift … on somebody elses birthday?
On February 15, 2010, Bob Moore, founder of Bobs Red Mill Products, gave his employees company ownership through
an employee stock ownership plan (ESOP).
It was his 81st birthday. Bobs Red Mill was founded over 25 years ago by Bob and Charlee Moore after they stumbled across an old abandoned mill and decided to turn it into a business. Today, Bobs Red Mill offers
over 400 whole-grain natural food products, ranging from flour to cereal to baking ingredients. The company boasts sales of over $70 million annually and enjoys consistent growth of 20 to 30 percent per year.
With an ESOP program, Bobs Red Mill has an employee trust fund made up of stock shares. Employees receive shares
based on a formula. With seniority comes a greater right to shares, called vesting. At Bobs Red Mill, employees are fully vested after three years of service. With shares often come voting rights, which gives employees a direct say in how the company is run. Upon retirement from the company, employees receive money for their shares.
, . As Bob sees it, hes selling the company to his employees without any money leaving their pockets.
Bobs Red Mill has succeeded thank~ to its dedication to high-quality products,
excellent customer service, and a reputation for treating employees like family.
Moore regularly receives offers from those looking to purchase Bobs Red Mill for large sums of money, but his dream has always been to reward those who truly made the company what it is today. Although he has no intention of retiring, Moore now believes his company will always be in the hands of those who care deeply about its
success.25
Discussion Questions
1. Why did Bob Moore give his employees
ownership through an employee stock
ownership plan (ESOP)?
2. What are the advantages of having
employees as owners at Bobs Red Mill
Products?
3. Does stock ownership help employees
understand the operations and financial
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