US-based CEO makes 19 staffers millionaires after $1-bn stake sale

Bhawana Chaudhary, Published on Jun 12th, 2025

US-based CEO makes 19 staffers millionaires after $1-bn stake sale

A 69-year-old CEO of a US-based chicken finger chain has said that he turned 19 of his employees into millionaires after selling a majority stake to a private equity firm for $1 billion. "I've a duty to the people that created this business," said CEO Bill Phelps. He said investors told him he's "giving away too much money".

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