Chobani, the American-based yogurt company, has gifted employees with partnership in the company. Company founder and CEO Hamdi Ulukaya announced that all full-time Chobani personnel, including new employees, will receive shares in the company.
Nearly 2,000 employees will benefit from the "Chobani Shares" partnership program declared on April 26, 2016. Ulukaya is touring Chobani facilities located around the country to give them the news in person and telling them, "We can all be part of Chobani's future."
Employees will receive shares within a maximum four years, with valuation depending on when the company declares their IPO, or initial public offering of stocks. Some long-time employees will receive more shares, including executives who will receive shares based on the criteria of the growth goals set for the next four years.
Workers' shares are not based on growth goals. If Chobani's valuation is considered at the conservative end of $3 billion, then an equal distribution would lead to each employee owning shares worth $200,000. The most striking part of this model is that if the company is sold or goes public, workers will be able to sell their shares for the value determined by the company, even before the four-year-period ends.
Founded by Turkish national Ulukaya, Chobani is the leading yogurt company in U.S. market.