The founder and CEO of Chobani–the line of super popular Greek yogurt that actually brought Sriracha to the dairy aisle–is in the running for best CEO ever. Hamdi Ulukaya announced to his entire company on Tuesday that he would give every employee shares in the company that are worth up to 10 percent altogether when Chobani goes public or is sold.
According to the New York Times, Chobani is estimated to be worth between $3 billion and $5 billion. If that value holds, employees would get $150,000 on average when this happens. And because the share division is based on tenure, some employees could get up to $1 million. This is unprecedented in American corporate culture, especially as the gap between rich and poor widens.
Rich Lake, one of Chobani’s five original employees said, “It’s better than a bonus or a raise. It’s the best thing because you’re getting a piece of this thing you helped build.”
This announcement comes after Chobani got a loan from TPG Capital to bail the company out of financial problems stemming from problems with getting a new factory in Idaho up and running. TPG had plans to buy 20 percent of shares, but this new deal would dilute their stake in the company.
In other words, sriracha yogurt has helped Chobani workers get the compensation that they deserve. You can see Ulukaya’s joyful announcement in the NBC Nightly News video above.
(via New York Times)