Forget corporate greed — the CEO of Australian bus company Grenda Corporation just sold part of the business and split $15 million in profit among his 1,800 employees.70-nine-year-old Ken Grenda, whose family has owned Grenda Corporation for 66 years, sold the transport arm of the business for $400 million but felt uncomfortable keeping all the money himself, the Sydney Morning Herald‘s Georgia Wilkins reports.
Instead, he surprised thousands of bus drivers and other workers with bonuses that averaged $8,500 each. Some employees received up to $100,000, according to the Australian Broadcasting Corporation.
“I don’t see any point in CEOs taking out millions of dollars all of the time,” Grenda told the ABC. “You know, that just doesn’t appeal to me.
“Bus drivers, as these guys will testify, aren’t the highest paid people in town but they’re totally dedicated, they’ve worked very hard, we’ve had people here for 40 and even 50 years working for us, that’s all of their working life. We just felt that they deserved a decent reward at the end of it.”
The sale is not expected to result in any job losses.
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