Greek yogurt is known for being rich in flavor and protein. Now, some employees at Chobani could become rich themselves.
On Tuesday, founder and CEO Hamdi Ulukaya announced that he would be giving all of his 2,000 full-time workers awards that could be worth up to 10 percent of the privately held company's future value if it becomes public or is sold. Each employee will be given "Chobani Shares" or award units, based on workers' tenure and role at the company, which could convert to cash or shares in the event of an initial public offering or a sale. The value of the awards are dependent on company performance, however, and have the potential to be worth nothing if the company doesn't meet performance metrics.
The New York Times, which first reported the news, said that if Chobani was valued at $3 billion, the average employee payout could be $150,000, and some long-tenured employees could see windfalls possibly worth more than $1 million. (A Chobani spokesperson declined to confirm those amounts.)
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