The CEO That Believes In Sharing Good Fortune With Staff
Turkish businessman Nevzat Aydın spent 15 years building his business, Yemeksepeti.com, into Turkey’s first and it’s leading online food ordering company.
The fruits of this labour have recently been revealed as German company Delivery Hero paid US$589 million (around AUD$802 million) to acquire Yemeksepeti.com.
“Many people said ‘are you crazy?’ when we started the company in 2000 with an investment of $80,000,” Aydin says in an interview with Hürriyet Daily News.
“But when you offer the Turkish people the right product in the right way, they adapt to changes. Now we get over 100,000 orders a day and make over 3 million transactions a month.”
Unlike other CEOs, however, Aydin is also very clear on where credit should be given, and in paying what’s due. So much so, in fact, that he and the other executives decided to share the profits of the sale with 114 of Yemeksepeti’s employees.
“Although we did not have any liabilities or promises, we shared $27 million of the money we got from the sale of the company with the employees, out of our own share and by also paying the taxes,” he tells Hürriyet.
“We did this because if there is a success, we have accomplished it altogether.”
The bonuses – collectively worth around AUD$37 million – worked out to around $324,000 per employee. Individual amounts were worked out based on performance, how long they had worked for the company and their “future potential”.
Aydin says the money has given them opportunities they would never have had on their typical wages (around $1400 to $2700 a month).
“People can buy homes, cars. They can immediately do something otherwise they could not with monthly wages of 3,000-5,000 Turkish Liras,” he says.
“It was a good thing; I wish we could have given them more.”
This bonus was the icing on the cake for many employees who had spent years with the company. Nedim Nahmias, for example, started as a Yemeksepeti call centre operator in 2005, before working his way up to Chief Operating Officer.
In an interview with CNN Money, he says that while he knew there could be a bonus, he never expected such a generous amount of money from the sale of the company.
“The conversation became very emotional for both of us,” he says. “This bonus package is life changing to many of us.”
Aydin is set to continue on as CEO of Yemeksepeti, but will also join the executive board of its new owning company, Delivery Hero. It’s expected the team will all continue on with Yemeksepeti, with Aydin telling media “success is much more enjoyable and glorious when shared with the rest of the team.”