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Moog's Ownership Goes to Employees

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Moog's Ownership Goes to Employees

Moog is famous for amazing inventions in synth, presets and theremins all over the world. In the world of music they have kept a unique out-of-the-box approach. The company was founded in 1953 by Robert Moog, the iconic leader of sound production.

Employees of Moog Music are celebrating the news of an employee stock ownership plan with a toast on Tuesday

Employees of Moog Music celebrating the news of an employee stock ownership plan with a toast on Tuesday.

Now, CEO Michael Adams, has declared to employees

I’ve sold half the company, I sold it to you.

Anxious silence dropped among the tight-knit group, many of whom feel a familial loyalty to the business, which has been likened to Willy Wonka’s factory for electronic musicians.

Hence, the company is now an employee-owned business. Company staff will immediately own 49% of Moog Music, while the other 51% will be granted to Moog employees in the following six years.