(MENAFN- AsiaNet News) Bob Moore, the founder of Bob's Red Mill, died at the age of 94 on February 10, 2024.
His business is well renowned for its whole grain goods and employee-friendly policies. For his natural food company, Moore had set up a special ownership structure. As per a Fortune report, he donated full ownership of the firm to his 700 employees instead of selling it to a food behemoth.
Prior to this, on his 81st birthday in 2010, Moore had handed up ownership and introduced an employee stock ownership scheme for his 209 workers. Long before he passed away, the company, which had expanded to 700 employees by April 2020, became fully employee owned.
He stated that he planned to stay away from traditional company structures, which put owners' and managers' profits ahead of workers' needs. "I learned almost 70 years ago how integral hard work and kindness is to success," said Moore. "As our little company expanded, I became aware that I had a wonderful chance to be giving. Matthew 7:12, one of my favorite verses in the Bible, advises us to treat others as we would like to be treated. I believe that should be our guiding principle as a society," he said.
The industrialist described Bob's Red Mill as "an absolute dream come true" in 2018. He stated in a different interview that he rejected several offers because he loved the firm too much to sell it. "They believed me to be a simple-minded fool for refusing to sell my business. You can't build what I've built and be really stupid, even though they told me how stupid I was," he said.
Despite having resigned from the firm in 2018, Moore remained a board member until his passing. After a lifetime of ups and downs, he asserted that his secret to success was to constantly focus on his true north.
The millionaire established the company at the age of 49.
He had previously worked for J.C. Penney as a shop manager and proprietor of a petrol station. He had committed himself to the study of the Bible and had left early retirement to launch the company. As of 2018, Forbes projected that the revenue of his firm was above $100 million. More than 200 items are sold by Bob's Red Mill in more than 70 countries.
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