Tags: Chobani | Shares | stock | employees

Chobani Giving Employees Shares in Company

Image: Chobani Giving Employees Shares in Company
(AP)

Wednesday, 27 Apr 2016 10:30 AM

Chobani says it is giving its employees an ownership stake in the privately held company.

The Greek yogurt maker says the shares being distributed would amount to 10 percent of the company's future value in the event of a sale or initial public offering. It says each of its approximately 2,000 full-time employees will receive shares based on their role and time spent with the company.

Chobani says CEO and founder Hamdi Ulukaya is meeting with employees this week to tell about the plan in person.

"This isn't a gift. It's a mutual promise to work together with a shared purpose and responsibility," Ulukaya wrote in a letter to employees. The plans were first reported by The New York Times.

Chobani has helped lead the surging popularity in Greek yogurt, but has faced more competition in recent years.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
StreetTalk
Chobani says it is giving its employees an ownership stake in the privately held company.
Chobani, Shares, stock, employees
138
2016-30-27
Wednesday, 27 Apr 2016 10:30 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved