CEO Allocates $240 Million Bonus to 540 Employees from Company Sale
4 hours agoBusiness
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CEO Allocates $240 Million Bonus to 540 Employees from Company Sale

Outgoing CEO Graham Walker of Fibrebond, a Louisiana-based manufacturer, ensured 540 employees received a share of the company's $1.7 billion sale to Eaton. As a condition of the sale, $240 million was allocated to workers, averaging $443,000 per employee, distributed over five years. This payout, which did not require employees to hold equity, provided significant financial relief and life-changing opportunities for many long-term staff members.

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