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IN THE CORPORATE generosity stakes, Turkish entrepreneur Nevzat Aydin just raised the bar a few notches.
The CEO of online food ordering service Yemeksepeti has handed his employees bonuses worth $27 million (€24.6 million) after selling his company for a huge sum to a German rival.
In May, four-year-old food delivery startup Delivery Hero took over the Turkish outfit for $589 million (€537 million at today’s rates) – the biggest deal to date in the sector.
This week Aydin told the Hurriyet newspaper he was setting a “bad example” for other bosses by sharing some of the windfall with 114 of the company’s workers – an average of about $237,000 (€216,000) apiece.
“We did this because if there is a success, we have accomplished it altogether,” he said.
Some employees cried, some screamed, some wrote letters of thanks … there were emotions, because you affect the lives of the people. People can buy homes, cars.”
It pays to wait
Yemeksepeti’s workers were generally paid between $1,000 and $2,000 per month, which meant the bonuses were worth several times their annual salaries.
It made the offer to all employees who had been with the company for over two years despite being under no obligation as part of its agreements.
Individual bonuses were decided based on their length of service and “future potential in the company”, Aydin told CNN Money.
The CEO will continue running Yemeksepeti and will also join the board of Delivery Hero. The German startup is the main European rival to UK-based Just Eat, which has a market value of over £3 billion (€4.3 billion) on the London Stock Exchange.
Aydin said if he had waited another year to sell the value of the deal would have been even higher.
“The $589 million paid is big, but what matters is to be able to reject offers of $300 million, $500 million, to wait for the right price,” he said.
You must know to say ‘no,’ you should not be afraid. The offer came up from $3 million to $589 million in 15 years.”
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The world needs more people like this.
God help the one person that disliked your comment.
For sure legend in my eyes, great to see things like this happening
There is very little doubt that the success of this company is closely linked to the recognition of the input of its employees but management. Irish companies could learn a lot from this.
Employer of the month.
Fair Play to him.
He is responsible for changing so many lives, obviously a very decent person. Some of the greed driven vampires in this country that treat their staff like dirt should feel ashamed reading this. My hats off to you sir.
Here he is with his employees, who look quite pleased:
If more workers were treated like this, they would work harder for their employer and feel happy instead of just feeling like an exploitative cog on the wheel of the Capitalist rat race. Fairy play to this man, he is unique, you wont find many like him.
This man is my hero.. Now get us a closer look at that ice bucket challenge picture as I see lots of white t-shirted ladies.
His recruitment policy looked fairly tasty anyway.
More Water
What a fantastic guy….!!
https://www.youtube.com/watch?v=Q5l50AW5gZA
Fairplay.. Pure Gent.. The world could do with a few more like you in it..
Any comment from IBEC on this?
I didn’t think so!
Mr Aydin’s payouts are equivalent to about 200 years’ worth of Ireland’s hotly contested new minimum wage increase.
O Leary are you listening? That’ll be the day.
Gis a Job.
Apparently the unions wanted half a million each for staff.
Good, that’s what unions are for.
Some people are just sound.
I’ll follow this guy. Seems to have decent leadership skills
It doesn’t hurt to give a little !
You can keep your capitalists and Christians. This is what life is about, looking after each other
absolutely sickened for the employees that are there less than 2 years!!
from the article it seems like they got something too and payouts were awarded by length of service with two years plus getting the maximum
Thought for mili second this happened in good old eire but they reality set in
My new hero.
If you’re in a position where you can help someone else, make them feel better, you are very lucky. You don’t need help, someone else does. This is obvious to a massive proportion of society, but there are some (top 1% in wealth) who can’t see it. Like as if they can only see the world in black and white. Or, like sociopaths who lack any sort of feelings.
In my opinion, greedy people suffer from a mental illness. Just like the hoarders we see on the TV, greedy people hoard money. They squirrel it away, accumulating as much as they can, but they can’t take it with them.
I knew a family who would water down the lemonade, coke and milk. They also collected used tea bags in a mug on the counter, for re-use at a later time. I know why the term ‘miserable’ is used when describing mean people.
A nice story for a change.
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