Retiring Owner of Lueken’s Village Foods Gives Company to Employees
Joe Lueken is the owner of Lueken’s Village Foods, and he’s planned a stellar way to celebrate his faithful employees upon his retirement: He’s giving them the three-store company. Is he the best boss ever?
“My employees are largely responsible for any success I’ve had, and they deserve to get some of the benefits from that,” Lueken told the Minneapolis Star Tribune. “You can’t always take. You also have to give back.”
Lueken is graciously leaving employees with no-cost company shares allocated according to their salary and tenure with the company. The employee stock ownership program takes effect on Jan. 1 and involves some 400 employees. Lueken reportedly turned down several offers from larger independent chains, who would likely pay him more money.
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(Photo credit: David Joles/Star Tribune)