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Fibrebond CEO awards $240M in bonuses to 540 employees after selling family company
Outgoing CEO Graham Walker allocated 15% of Fibrebond's $1.7 billion sale proceeds, distributing $240 million in bonuses averaging $443,000 to 540 employees over five years.
- Graham Walker, then-CEO of manufacturing firm Fibrebond, allocated $240 million as bonuses for 540 full-time employees when the company was sold.
- The bonuses, averaging $443,000 per employee over 5 years, were described as life-changing by recipients who used them to pay off debts, fund education, and start businesses.
- Walker said the bonuses reflected his gratitude to loyal employees who stayed through challenges like a factory fire and loss of customers after the dot-com bubble burst.
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Before leaving, Graham Walker, the CEO of Fibrebond, Louisiana (USA), distributed $240 million in bonuses to his 540 employees. This amount, derived from the amount of the company's sale, is equivalent on average to $443,000 per worker, but they will have to submit to a condition: stay in the company in the next few years. - $240 million in bonuses: the generous donation of a boss to his employees... on one condition (International).
Former CEO of Louisiana-based Fiberbond paid out bonuses totaling $240 million to employees
·Belgrade, Serbia
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Coverage Details
Total News Sources40
Leaning Left6Leaning Right14Center20Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
15%
C 50%
R 35%
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