Hamdi Ulukaya, founder and chief executive officer at US-based Greek yoghurt manufacturer Chobani, has given employees a stake in the organisation.
Some 2,000 full-time employees have been awarded shares, which will be worth up to 10% of the food production firm’s value at the point of the organisation’s sale or in the event of an initial public offering (IPO).
The number of shares gifted to staff varies according to length of service.
Ulukaya announced the news to employees at the organisation’s production site in New York on Tuesday 26 April.
Ulukaya, who founded the organisation in 2005, is distributing the shares in recognition of employees’ hard work and dedication in helping to build the business.
In a letter to employees Ulukaya said: “We’re beginning a new chapter for Chobani, and starting now we all have an opportunity to be a part of Chobani’s future. We’re calling it Chobani Shares, and every full-time member of the team will receive awards that provide an opportunity to share in the growth of the [organisation] over time.
“This isn’t a gift. It’s a mutual promise to work together with a shared purpose and responsibility. To continue to create something special and of lasting value.
“How we built this [organisation] matters to me, but how we grow it matters even more. I want you not only to be a part of this growth, I want you to be the driving force of it. To share in our success, to be rewarded by it.”