The Key Step Chobani Just Took Toward Global Expansion
It's been an eventful few years for Chobani. In 2019 it released its first oat milk and oat milk yogurts, with plans to further expand its product line to include coffee creamers, per CNBC. "Our ambition has always been to go outside of yogurt, and we're really prepared for it," said Chobani President and Chief Operating Officer (COO) Peter McGuinness.
According to a filing with the Security and Exchange Commission the company released in November 2021, Chobani holds 20% of the market share for yogurt. But in March 2022, McGuinness and a large portion of the company's executive team left the company (per The Wall Street Journal).
Now, per a recent announcement, Chobani is gearing up for another change in leadership, this time in the name of expansion. But, the company has its sights set on a much larger arena than the dairy aisle. Here's the key step Chobani just took toward global expansion.
Chobani just created a new position for global marketing
In addition to widening its inventory, Chobani has gotten to work making major changes to its executive leadership team. Earlier this week, the yogurt brand named Tarkan Gürkan its new Chief Financial Officer (CFO), and created a new position: Senior Vice President of International Market Development. CFO Gürkan has worked in both public and private finance for 25 years, with experience at PepsiCo, Campbell Soup Company, and Nabisco.
The new role, filled by Singapore-based Kenneth Bishop, specifically aims to broaden Chobani's scope throughout the world. Bishop boasts 15 years of experience in helping companies like Facebook and Juul Labs expand internationally — which, granted, are two very different enterprises from yogurt, but surely the skills are transferable.
Kevin Burns, Chobani's President and COO, commented, "With Tarkan's excellent financial experience and Ken's knowledge of international markets, I am confident we have the right leadership team in place to continue building on the positive momentum we are currently seeing in the business and our focus remains on strong execution and driving profitable growth."
Chobani's market already spans the U.S., Australia, and parts of Asia and Latin America, per Food Dive. Now, with Bishop's new position in place, the yogurt company plans to expand even further. Per the Security and Exchange Commission filing, Chobani plans to focus on Mexico, Canada, and Australia in the near future, but that's only the start for this intrepid yogurt company with its eyes on the prize.