Yogurt Maker Chobani Names New CFO as It Still Weighs an IPO

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Chobani said the caller CFO volition assistance instrumentality the institution nationalist if marketplace conditions improve.

Photo: Stuart Ramson/Associated Press

Sept. 22, 2022 8:47 americium ET

Chobani hired a imperishable concern main arsenic it continues to measurement an archetypal nationalist offering aft withdrawing its planned debut earlier this month.

The New Berlin, N.Y.-based company, known for its Greek-style yogurt, connected Thursday named Tarkan Gürkan arsenic main fiscal officer. Mr. Gürkan stepped into the relation connected an interim basis successful June aft erstwhile CFO Jody Macedonio stepped down the aforesaid month. Ms. Macedonio joined the institution successful 2020 to assistance Chobani hole for its nationalist debut.

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Mr. Gürkan antecedently served arsenic main concern serviceman astatine the household bureau of Chobani laminitis and Chief Executive Hamdi Ulukaya. Before that, helium was a elder vice president astatine nutrient and beverage shaper PepsiCo Inc., liable for starring the execution of mergers and acquisitions and partnerships. Mr. Gürkan additionally held enactment positions astatine nutrient companies Campbell Soup Co. and Nabisco Holdings Corp.

As CFO, Mr. Gürkan volition absorption connected preparing the institution for a imaginable nationalist debut, according to a spokeswoman. Chobani connected Sept. 2 withdrew its archetypal nationalist offering aft pushing backmost the listing earlier this year. An IPO is inactive connected the table, the spokeswoman said, adding that Mr. Gürkan volition assistance instrumentality the institution nationalist if marketplace conditions improve.

The institution had antecedently planned to spell nationalist successful the autumn of 2021, and past successful January of this year, The Wall Street Journal reported. It initially targeted a valuation of arsenic overmuch arsenic $7 cardinal to $10 billion, the Journal reported. In March, Chobani put the planned listing connected hold arsenic respective executives near the company. The institution has estimated it has astir one-fifth of the astir $10 cardinal U.S. yogurt market. It besides produces java creamers and oat milk.

Chobani besides named Kenneth Bishop to the caller relation of elder vice president of planetary marketplace development. The institution has accumulation facilities successful Australia arsenic good arsenic successful the U.S. and distributes its products to countries successful Latin America and Asia, according to the spokeswoman.

Mr. Bishop antecedently held planetary roles at Meta Platforms Inc.’s Facebook and physics cigaret institution Juul Labs Inc. and has astir precocious been an advisor astatine absorption consulting steadfast Bain & Co.

Write to Jennifer Williams-Alvarez astatine [email protected]

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