CHENANGO COUNTY – On Tuesday, Chobani announced a program to give every single full-time employee the opportunity to share in the growth of the company over time.
“We’ve always been a different kind of company,” read a letter from Chobani’s founder, chairman and CEO Hamdi Ulukaya to the employees. “Deep values, a strict food philosophy, incredible makers—driven by our mission and our spirit. For us, it’s always been about giving back—making our communities stronger, giving people opportunity and access. Never forgetting about what we’re doing and who we’re doing it for.”
Ulukaya said, “My dream, from day one, was to share our success with this entire family—for us all to have a stake in our future, working together to grow Chobani and furthering our mission as a modern food company.”
The program – dubbed ‘Chobani Shares’ – is an unprecedented program giving each employee the opportunity to share in the growth of Chobani over time—the total amount across its entire employee population is nearly 10% of the future growth of the company.
Founder, chairman and CEO Hamdi Ulukaya visited the South Edmeston and Norwich locations on Tuesday to deliver the news to the employees at those locations. Ulukaya is set to visit the Twin Falls, Idaho location and SoHo location in New York City later in the week.
Through Chobani Shares, every full-time employee (worldwide) will receive an award that provides them with the opportunity to share in the future growth of the company over time.
It was said that units become valuable at a future event, such as an IPO. What makes it truly unique is that all employee are included, and employees are not asked to pay for any units (as is the case in many Employee Stock Option Programs ESOPs).
“We’ve built a strong, sustainable independent food company. Our share of the yogurt category has never been higher, our plants have never run better and we’re moving into new areas of the supermarket with incredible food,” read a release from the company.
“We’ve been on this journey for almost ten years now and I’m so proud of what we’ve done,” said Ulukaya. “[Today], we’re beginning a new chapter for Chobani, and starting now we all have an opportunity to be a part of Chobani’s future.”
Ulukaya told employees, “This isn’t a gift. It’s a mutual promise to work together with a shared purpose and responsibility. To continue to create something special and of lasting value.”
“How we built this company matters to me, but how we grow it matters even more. I want you not only to be a part of this growth—I want you to be the driving force of it,” Ulukaya added. “To share in our success, to be rewarded by it. We have a lot of opportunity to grab in the years to come, and when we do, we will not only fulfill our mission, we’ll take care of each other, our families and our communities.”
Ulukaya said, “I couldn’t be more proud to share Chobani with you, and I couldn’t be more optimistic for where we’re going.”
Additonal recent Chobani-related news includes the expansion of the Twin Falls, Idaho plant and the roll-out of new products including dips and drinks (Chobani Meze™ Dips and Drink Chobani™).
For further information visit chobani.com.