Leanin’ Tree, Inc., Transitions to an Employee Stock Ownership Plan (ESOP)

Leanin’ Tree, Inc., a greeting card company based in Boulder, Colo., has transitioned from a familyowned business to an Employee Stock Ownership Plan (ESOP). The company was co-founded in 1949 by Edward Trumble and Bob Lorenz. Trumble purchased full ownership of the company in 1965. Ownership remained with the Trumble family after Edward Trumble passed away in 2018. The Trumble family, led by eldest son Tom Trumble, has now sold 100 percent of their company to the new ESOP.

As part of the transition, President and Chairman Tom Trumble, and Senior Vice President of Product Development Jane Trumble, officially had their last day as employees December 26, 2021. Under the new ESOP the company will be led by a board of directors with Tom Trumble and CEO Rob Carr as board members. Rob Carr will serve as board Chairman.

According to Tom Trumble, “It has always been a goal of the Trumble family for Leanin’ Tree to continue forever. To best ensure that happens, we have formed the Leanin’ Tree ESOP. The company’s employees are now the new owners of Leanin’ Tree.” Tom Trumble shared some of his thoughts with company employees late last year. “We never had even a moment of doubt that this was the best possible transition for employees, the Trumbles, and also for customers, representatives, artists and suppliers. It is a win-win for all. It’s a good feeling when something feels so right.” ❖