Norwich, New York-based Chobani has named veteran finance executive Jody Macedonio as CFO, effective Dec. 28.
Macedonio, who will report to Chobani President and COO Peter McGuinness, is joining Chobani as it enters and grows in four categories: plant-based oat milks, dairy and plant-based oat creamers, functional wellness beverages and a new probiotic yogurt portfolio. This comes as Chobani continues to grow by double digits in total dollar sales in grocery outlets and online.
In oat milk, Chobani is now the No. 2 brand in U.S. food market share in just eight months since its launch and exceeded its plan by over 100 percent in revenue.
To help support this growth, Chobani’s interim CFO Michelle Brooks will continue her role as treasurer and take on the newly-created role of chief business development officer. Brooks remains on the executive leadership team, reporting to Macedonio.
“As we build the next generation food company, we’re building the leadership team who will help us make it happen. Jody brings deep operational finance leadership experience. She has a passion for food and beverage, she loves a challenge, she’s super-collaborative and very growth-driven,” said McGuinness. “Michelle’s new leadership role is central to our growth strategy as a modern food company. Together, Jody and Michelle are a formidable combination.”
Despite the challenges of the global COVID-19 pandemic, Chobani spent 2020 investing in its people, communities and innovation. Chobani donated more than 7 million products to food banks coast to coast, turned its cafe into a food pantry, kept its workforce safe and supported and its plants operating 24/7 while providing special benefits to its essential workers like additional quarterly bonuses and daily childcare stipends. The company also recently announced a commitment to a starting wage of $15 an hour, more than double the federal minimum wage. This investment brings its average wage to $19 an hour for its essential workers. During this time, Chobani has also launched more than 50 new products across four categories.
Both Macedonio and Brooks have a commitment to Chobani’s values and growth culture along with deep business experience.
Macedonio has more than 20 years of global experience as a finance executive in the consumer goods industry. Most recently she served as the CFO of 8th Avenue Food & Provisions, a PE backed CPG company affiliated with Post Holdings and prior to that was CFO of Dean Foods.
Quickly rising through the ranks in senior finance roles at multinationals like Henkel AG, PepsiCo, Nestle and SmithKline Beecham, she’s led complex turnarounds, productivity initiatives, restructurings and large-scale post acquisition integrations.
“Chobani has made incredible strides in a short period of time – as a brand, there is no better place to be in food. Growth via innovation has been impressively smart and nimbly executed. I look forward to joining the team to help drive continued, strategic growth as Chobani broadens its portfolio to additional food categories,” said Macedonio. “With its people-first culture and Chobani’s philosophy of investing in its employees, making more nutritious food more accessible to all and meaningful support for its communities, I’m incredibly excited and grateful to be a part of the Chobani family.”
Macedonio is a board director for 4word, a national nonprofit organization for professional women where she enjoys mentoring and is an ardent advocate for diversity and inclusion.
Brooks’ new role as chief business development officer reflects her exceptional investment experience and her broad-based business acumen. Brooks will continue to play a key role in representing Chobani with its lender community and lead new ventures to deliver even more performance and growth.
“Michelle has been incredibly instrumental in helping us achieve amazing growth, notably in 2020. Her commitment and passion for Chobani’s mission exists in everything she does, and we are so grateful she has accepted this new leadership role,” said McGuinness.