Chobani Is Not Paying TPG for Partner's Work

It story was overblown. Michael Gonda, Chobani’s vice president of corporate communications, says that Chobani is not paying Burns or TPG any sort of salary or stipend for Burns’s work with the company.
Instead, sources familiar with the situation say that Chobani’s only Burns-related remuneration is for travel and expense costs, as Burns lives in California while Chobani is based in upstate New York.
Burns is believed to be spending around half of his time on Chobani activities, while continuing to run TPG’s industrial sector investment practice. He also is rumored to be in the running to become full-time CEO of Chobani, although a conclusion to that search is not imminent.
TPG declined to comment for this story. (by Dan Primack - Fortune)
Instead, sources familiar with the situation say that Chobani’s only Burns-related remuneration is for travel and expense costs, as Burns lives in California while Chobani is based in upstate New York.
Burns is believed to be spending around half of his time on Chobani activities, while continuing to run TPG’s industrial sector investment practice. He also is rumored to be in the running to become full-time CEO of Chobani, although a conclusion to that search is not imminent.
TPG declined to comment for this story. (by Dan Primack - Fortune)
Last modified onSaturday, 06 May 2017 10:07
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