Chobani Inc. finance chief
Jody Macedonio
will exit the company next month, the latest executive departure after the yogurt maker put plans for its initial public offering on hold.
Ms. Macedonio joined the New Berlin, N.Y.-based company in 2020 to help prepare the company for its public debut. A search for a new CFO is under way, according to an internal memo from Chief Operating Officer
Kevin Burns
to staff that was reviewed by The Wall Street Journal.
Chobani already has begun discussions with candidates, the memo added. Until a successor is found,
Tarkan Gurkan,
the current chief investment officer at the family office of Chobani founder and Chief Executive
Hamdi Ulukaya,
will oversee the finance team.
Ms. Macedonio, who previously worked in finance roles at Dean Foods Co. and PepsiCo Inc., didn’t immediately respond to a request for comment
Ms. Macedonio’s departure comes after several top executives, including former COO
Peter McGuinness
and former Chief Corporate Affairs Officer
Cristina Alesci,
left in recent months.
The departures came as Chobani pushed back its planned initial public offering several times. The company initially planned to go forward with an IPO in the fall of 2021, and then in January of this year, the Journal previously reported. It filed confidentially for an IPO last July, and filed its S-1 in November.
The company now plans to wait until at least the second half of 2022 or even 2023 for its IPO, the Journal reported. It initially targeted a valuation of as much as $7 billion to $10 billion.
Chobani shook up the yogurt industry after it began selling its Greek-style yogurt about 15 years ago. Its products helped popularize the Greek variety, which has more protein and less sugar than traditional yogurt in the U.S., aligning with a broader shift in consumers’ eating habits.
Write to Annie Gasparro at [email protected] and Will Feuer at [email protected]
Corrections & Amplifications
Chobani is based in New Berlin, N.Y. An earlier version of this article incorrectly said the company is based in Norwich, Conn. (Corrected on May 12.)
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