Business

Chobani Greek yogurt maker giving 10% of company to employees

Greek yogurt maker Chobani says it is giving its employees an ownership stake in the privately held company.
Greek yogurt maker Chobani said it is giving its employees an ownership stake in the privately held company. (Drew Nash/The Times-News via Associated Press)

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 per cent 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.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

now