Chobani doubles down on corporate impact strategy
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Chobani plans to be more vocal about its impact work — such as environmental and social initiatives — at a time when most big brands are going quiet.
Driving the news: Chobani has reshuffled its impact work by naming former chief communications officer Nishant Roy as chief impact officer.
- Plus, as Axios scooped earlier this week, Peloton and Edelman alum Ben Boyd will take over Chobani's communications function.
- The two will work closely to share more human-centric stories around corporate ESG strategies, Boyd told Axios.
Zoom out: A recent Fact Set study found that the number of S&P 500 companies citing ESG on earnings calls has declined in four of the past five quarters.
Yes, but: Just because communications teams by and large aren't regularly flaunting ESG messaging, doesn't mean the impact work has stopped.
- Last year, McDonald's beefed up its impact operation by uniting its government relations, policy, communications, philanthropy and ESG functions under one global team led by Jon Banner.
- And companies like Coca-Cola, Patagonia and Instacart remain steadfast in sharing their impact strategies.
Between the lines: Chobani has both a business success story and an impact story to tell, says Roy.
- Chobani's sales are up in the Ozempic era, with the low-sugar yogurt segment seeing 17.9% growth year-over-year.
- Chobani sales increased from $1.88 billion to $2.2 billion and the company recently acquired La Colombe coffee shops for $900 million.
- Plus, there is talk of a looming IPO.
What they're saying: The goal is to create the Patagonia effect — meaning that consumers, employees and potential investors all keenly understand what a company stands for, says Roy.
- "We need to collectively give [the communications team] the appropriate points to go and explain to the public what it is that we're actually doing here, because it's not just impact for the sake of impact — it's core to our business. ... And now with La Colombe in the family, we get to be impactful from a food perspective and from a global supply chain and sourcing perspective."
- "We fundamentally believe that we can be a purposeful business while actually being profitable," he added.
Go deeper: Low-sugar Greek yogurt sales are booming in the Ozempic era
