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King Arthur Flour Company: Mixing Tradition with New Inventions Steve Voigt, President & CEO

King Arthur Flour Company: Mixing Tradition with New Inventions Steve Voigt, President & CEO Sarah McGinley-Smith, Employee-Owner Moderator: Diane Stoneman, Dir. of Consulting and Training, Winning Workplaces Start Time: 10 am CT.

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King Arthur Flour Company: Mixing Tradition with New Inventions Steve Voigt, President & CEO

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  1. King Arthur Flour Company: Mixing Tradition with New Inventions Steve Voigt, President & CEO Sarah McGinley-Smith, Employee-Owner Moderator: Diane Stoneman, Dir. of Consulting and Training, Winning Workplaces Start Time: 10 am CT Audio: Dial toll free: 866-740-1260 Access Code: 3289796Problems? ReadyTalk Customer Care: 800-843-9166

  2. Founded in 2001 by co-owners of Fel-Pro Auto Gaskets Committedto small enterprises building healthy, productive work cultures Triple bottom line: Business, People, Community. Winning Workplaces

  3. Winning Workplaces Business Leader Webinars Online Clearinghouse Consulting & Training

  4. The Wall Street Journal Winners profile @ WSJ.Com/Entrepreneur 2008 Best Practice Report@ WinningWorkplaces.org Top Small Workplaces conference Oct. 1& 2 in Chicago

  5. ATA Engineering Decagon Devices Integrated Project Management (IPM) JA Frate Jackson's Hardware Jump Associates King Arthur Flour Company Landscape Forms Lundberg Family Farms New Belgium Brewing Phenomenex Rainforest Alliance Resource Interactive The Paducah Bank & Trust The Redwoods Group

  6. 2008 Winners at a Glance Steady rate of growth, 2005-2007 = 23%. Revenues range= $8-$107 mil.; average $36 million. Employees ranges from 48 to 477; average 154. Average tenure= 6 years; average turnover rate 13%. Stable leadership: avg. CEO tenure = 17 years. Long term business: average 42 years. 10 out of 14 firms= employees share in ownership.

  7. Our Agenda Today King Arthur Flour History Evolution Over Time- Two Perspectives Lessons Learned Audience Questions

  8. Meet our Presenters Steve Voigt President & CEO Sarah McGinley-Smith Employee-Owner

  9. King Arthur Flour History 1790: Henry Wood began importing flour to Long Wharf in Boston 1896: Owners gave product a new brand name: King Arthur Flour 1984: Then-owner Frank Sands moved company to Norwich, Vermont 1990: Mail order catalogue established 1992: Baker’s Store opened 1995: King Arthur Flour’s new headquarters, Camelot, was built. 1996: Frank Sands decides to sell his company to his employees 2004: King Arthur Flour becomes 100% employee-owned 2007+2008+2009: Ranked in top 5 for best places to work in Vermont

  10. Snapshot of Growth 1990 2008 Employees: 3 160 Products offered: 142 1500 Annual catalogues: 125,000 5,800,000 Annual emails: 0 25,000,000 Facilities (sq. ft): 4000 62,000

  11. King Arthur Flour Today 170 employee owners $73 million in sales Flour: grocery, Bakery Food Service Direct: web, catalogue, retail store Education: Baking Education Ctr, LifeSkills, Traveling Baking Demonstrations

  12. Company Transformation Challenges Culture Leadership during change What went right

  13. Employee Involvementat time of transition • Employees already acting like owners- now actually owners • Stock price decrease • Ownership vs. operational involvement • Maintaining culture after original owners phase out

  14. Employee Involvement Today= Teams • Safety • ESOP • Stewardship

  15. Employee Involvement Today= Brown Bag Lunches

  16. Employee Involvement Today= Owner Meetings

  17. Employee Involvement Today= Intranet/Tablespoon/Wiki

  18. Employee Involvement Today= Brain food Classes

  19. Ingredients for Success Involvement (the Round Table) Quality Fun and Celebration Pride Open Book

  20. Lessons Learned • Succession is tricky (it was in the days of kings as well) • Developing leaders from within to match pace of new opportunities • Communication even more critical

  21. ROI Impact of Transformation

  22. Questions or Feedback? Steve Voigt President & CEO Sarah McGinley-Smith Employee-Owner

  23. Upcoming Webinar Engaging Fresh Young Talent in the Workplace Featuring: Dave Schmitz, General Mgr, The Steppenwolf Theatre, Tom Walter, CEO, Tasty Catering, Elk Grove Village, IL October 20, 2009 @ 10:00 a.m. CST

  24. Thank you for joining us. Please fill out feedback evaluation form.

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