Wow! Talk about profit sharing. This CEO divied up $27M among 114 workers after selling his firm
This is what profit sharing should look like.
The CEO and co-founder of a Turkish food delivery company has paid out $27 million to 114 employees after selling the firm.
Nevzat Aydin told Turkish newspaper Hurriet his employees deserved to benefit from the sale.
“If there is a success, we have accomplished it all together,” he was quoted as saying.
Aydin sold Yemeksepeti to Germany’s Delivery Hero for $589 million in May. The bonus is worth $237,000 on average.
The German company said the bonus plan had been decided before it bought Yemeksepeti, but it approved of the idea.
“The success of companies like Delivery Hero and Yemeksepeti is based on amazing company cultures where tremendous people always walk the extra mile,” spokesman Bodo von Braunmuehl told CNNMoney.
“We have in the past, and will in the future, continue to also share some of the success with those,” he said.
Each employee’s share of the $27 million was based on three criteria: their direct impact on Yemeksepeti’s success, the number of years they worked for the company, and their “future potential,” von Braunmuehl said.
Aydin told the newspaper that his employees are paid between $1,000 and $2,000 a month. That means the average payout is worth roughly 150 times their monthly wage, and tops the average Wall Street bonus for 2014 by $65,000.
Yemeksepeti is one of the most successful tech brands in Turkey, delivering over three million meals every month across Turkey, United Arab Emirates, Saudi Arabia, Lebanon, Oman, Qatar and Jordan.