Hobby Lobby founder gives away his company, says he ‘chose God’

(Gray News) – The owner and founder of Hobby Lobby announced on Friday that he had relinquished ownership of the company, a decision he says he came to when he “choose God.”

David Green, the former CEO of Hobby Lobby, wrote an opinion piece published by Fox News in which he explains how he made his decision and how his faith guided him in his role as leader of the company. Hobbies.

In the article, Green said his success as the owner of Hobby Lobby came from God and that he saw himself as a steward of the business rather than the owner. He also said business leaders in similar positions should consider whether they own or manage the businesses they run.

“Consider the idea of ​​where your success comes from,” he wrote. “I’ve seen many companies with the best ideas fail, and others with the simplest ideas thrive. I believe that God is the bestower of success, and with it the responsibility of being a good manager.

Green also said he has certain rights and responsibilities as the owner of the business, including the right to sell it and keep the profits for himself and his family. He said that idea bothered him more and more as Hobby Lobby grew.

“Well-meaning lawyers and accountants have advised me to simply pass the property on to my children and grandchildren,” he wrote. “It didn’t seem fair to me that I could change or even ruin the future of grandchildren who weren’t even born yet.”

He said his role as manager of the company was a big responsibility and he was not supposed to take the profits for himself. He also said the idea led Hobby Lobby to raise its minimum wage to $18.50 an hour, close on Sundays, and close every other day at 8 p.m.

Green also referenced former Patagonia owner Yvon Chouinard, who in September spun off the clothing company to a trust and nonprofit designed to use all proceeds to help fund anti-change efforts. climatic. Green said his decision, and that of Chouinard, allows them to maintain their mission and purpose.

“It gives me a bigger purpose than just making money,” Green wrote. “As Chouinard said, ‘Instead of going public’, you could say ‘we’re going to make a goal’.”

No details were provided by Green on how or when he will transfer ownership of Hobby Lobby.

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