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CEO Shares $27 Million With Staff After Selling His Firm - Business - Nairaland

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CEO Shares $27 Million With Staff After Selling His Firm by MosakuAW(m): 8:05pm On Jul 29, 2015
This is what profit sharing should look like.

The CEO and co-founder of Turkish food
delivery company Yemeksepeti has paid out $27
million to 114 employees after selling the firm
for $589 million.

Nevzat Aydin said his employees deserved to
benefit from the company's sale to Germany's
Delivery Hero.

"Yemeksepeti's success story did not happen
overnight and many people participated in this
journey with their hard work and talent," he
told CNNMoney.

The startup was launched 15 years ago by
Aydin and three colleagues. It now has 370
employees, delivering over three million meals
every month.

The bonuses are worth $237,000 on average.

They were paid from the proceeds of the sale
of the company.

How much each employee received was based
on their performance, how long they had
worked for the firm, and their "future potential
in the company," Aydin said. Only employees
who had been with the company for two years
were eligible.

Aydin's 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.

Nedim Nahmias is one of the employees who
received a bonus. He started as a call center
operator 10 years ago, before working his way
up to become chief operating officer.
He knew his boss had plans for the payout, but
had no idea of the amount.

"The conversation became very emotional for
both of us," he said. "This bonus package is life
changing to many of us."

Nahmias, who got engaged recently, would not
say how much he was paid. "Let's just say the
money I received will cover many potential
expenses of a soon to be married couple," he
said.

Yemeksepeti is one of the most successful tech
brands in Turkey. It also operates in the United
Arab Emirates, Saudi Arabia, Lebanon, Oman,
Qatar and Jordan.

Delivery Hero said the bonus plan had been
decided before the acquisition, but said 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 said.

"We have in the past, and will in the future,
continue to also share some of the success with
those," he said.

Aydin, who first revealed the bonus in an
interview with Turkish newspaper Hurriet , has
been promoted as part of the takeover. He
remains CEO of Yemeksepeti, but will also join
the executive board of Delivery Hero.

He remains convinced his team should benefit
from any future successes of the firm.
"I believe in team work and I believe success is
much more enjoyable and glorious when
shared with the rest of the team," he said

Source:money.cnn.com/2015/07/28/news/companies/turkish-ceo-staff-bonus-millions/

Re: CEO Shares $27 Million With Staff After Selling His Firm by ladyF(f): 8:07pm On Jul 29, 2015
Wow
Re: CEO Shares $27 Million With Staff After Selling His Firm by Willswise(m): 8:14pm On Jul 29, 2015
Good for him and congratulations to his staff.
A kind hearted fellow
Re: CEO Shares $27 Million With Staff After Selling His Firm by Nobody: 8:32pm On Jul 29, 2015
This is inspiring..
Re: CEO Shares $27 Million With Staff After Selling His Firm by crispberry(f): 9:09pm On Jul 29, 2015
Hmmmm. Good

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