Hillary praises Chobani's move to give its employees 10 per cent of the company's shares - some worth more than $1 million
Chobani CEO Hamdi Ulukaya will give employees shares in company
Greek yogurt company says 10 per cent will go to 2,000 full-time workers
Hillary Clinton praised move by the CEO on Twitter after announcement
Some employees may be given shares possibly worth more than $1million
Democratic presidential candidate Hillary Clinton praised Chobani's decision to give its employees an ownership stake in the privately held company.
Clinton applauded the move by CEO and founder, Hamdi Ulukaya, on Twitter.
'Love this. Great to see Chobani sharing its success with the employees who helped make it possible.'
Chobani said Ulukaya met with employees Tuesday morning to tell them about the plan in person.
The Greek yogurt maker says the shares being distributed would amount to 10 per cent of the company's future value in the event of a sale or initial public offering.
It says each of its approximately 2,000 full-time employees will receive shares based on their role and time spent with the company.
Some employees may be given shares, possibly worth more than $1 million.
'This isn't a gift. It's a mutual promise to work together with a shared purpose and responsibility,' Ulukaya wrote in a letter to employees.
Ulukaya said the goal is to pass along the wealth they have helped build in the decade since the company started.
Chobani is now widely considered to be worth several billion dollars.
He told the New York Times: 'I've built something I never thought would be such a success, but I cannot think of Chobani being built without all these people.'
Ulukaya added that the employees will now 'be working to build the company even more and building their future at the same time'.
Employees received a white packet with information about how many Chobani shares they were given.
The number of shares given to each person is based on tenure, so the longer an employee has been at the company, the bigger the stake, according to The Times.
Chobani has helped lead the surging popularity in Greek yogurt, but has faced more competition in recent years.
Ulukaya added that the employees will now 'be working to build the company even more and building their future at the same time