An American businessman has drawn widespread attention after sharing a massive portion of his company’s sale proceeds with employees, turning a corporate exit into a life-changing moment for hundreds of workers.
Graham Walker, 46, former CEO of electrical equipment enclosure maker Fibrebond, distributed nearly Rs 2,155 crore ($240 million) in bonuses among around 540 employees after selling the company to Eaton Corporation earlier this year for about Rs 15,265 crore ($1.7 billion). Notably, Fibrebond employees did not hold company stock, but Walker insisted they directly benefit from the deal.
Sale deal tied to employee payouts
According to a Wall Street Journal report, Walker refused to finalise the sale unless buyers agreed to earmark 15 per cent of the proceeds exclusively for employees. The bonuses were triggered in June and will be paid out over a five-year period, averaging roughly $443,000 per employee.
When the announcement was made, several employees reportedly believed it was a joke. As the reality set in, many began using the money to clear debts, buy vehicles, pay for college education, or strengthen their retirement savings.
Lesia Key, who joined Fibrebond in 1995 at the age of 21 and later rose to lead a team of 18 people, described the impact as transformative.
“Before, we were going paycheck to paycheck. I can live now; I’m grateful,” said Key, who earned just $5.35 an hour when she first started at the company.
‘Felt fair’: Walker on sharing wealth
When asked if the Walker family had considered allocating an even larger share to employees, Graham Walker said, “Close to a quarter-billion dollars in employees’ hands felt fair.”
The gesture sparked a wave of reactions online, with many praising the move as an example of ethical leadership. “He’s going to look back and see the change he made in people’s lives. That’s living,” one user wrote. Another commented, “Incredible. Great Humans doing incredible things. You love to see it.” A third added, “If my boss pulled this, I’d be the happiest employee alive. This is how you actually reward loyalty and hard work — respect.”
Founded in 1982 by Walker’s father Claud Walker along with 11 others, Fibrebond weathered decades of challenges, including a factory fire in 1998 and economic turbulence during the dot-com crash. Employee loyalty remained intact throughout those difficult years.
In a key strategic shift, the company later invested $150 million to expand its capacity to support data centre infrastructure. That gamble paid off in 2020 as demand surged, ultimately setting the stage for the sale that delivered one of the most generous employee bonus payouts in recent corporate history.