-Fast Company
Hamdi Ulukaya
never planned to move to America, much less start a yogurt business
that would make him a billionaire. Things so easily could have been
different. He might have gone into Turkish politics or the family
cheese-making business, perhaps even married the hometown girl who his
mother claimed would be perfect for him. He thinks about it a lot
Instead, Ulukaya got hauled in for questioning by the Turkish police one day, and his life went in another direction.
At
the time, in the early 1990s, Ulukaya was studying political science at
Ankara University. A Kurd who grew up raising sheep in the mountains of
eastern Turkey, he had gravitated toward the contentious Kurdish-rights
movement, attending demonstrations and publishing a politically minded
newspaper.
More than two decades later, Ulukaya was in Twin Falls, Idaho, recalling
that fraught era. The founder and CEO of the multibillion-dollar yogurt
business Chobani
was at the largest of his company’s three manufacturing plants, where
he had assembled senior staff to go over plans for the next year and
beyond. Ulukaya is a quiet man with oversize features and a subtle
magnetism that’s occasionally punctured by an endearingly goofy
high-pitched laugh. Unlike many CEOs, he radiates more warmth than
authority, and his manner is unhurried, even when his schedule is hectic
(his schedule is always hectic).
An aimless young anticapitalist immigrates to the U.S. simply because he
needs a place to go, and through grit, determination, and eerie
prescience about changing American tastes somehow builds a massive brand
that eventually dominates the $3.6 billion Greek yogurt industry,
besting international conglomerates such as Danone and General Mills.
But Ulukaya has done more than that. He has begun to forge a new kind of
business leadership, one that fuses competitiveness with an unusually
strong sense of compassion
In just the past year, he has launched a program to give away up to 10%
of Chobani’s equity to his workers and instituted a generous six-week
parental-leave policy. No unions or worker groups pressured him; he just
decided on his own. He also employs more than 400 refugees, which is
proving increasingly controversial in the Trump era. Ulukaya’s actions
have brought both death threats and invitations to speak at the World
Economic Forum in Davos, Switzerland, where in January he challenged
other business leaders to take more responsibility. “You have to lead by
example,” he says. “Chobani can inspire a new way of business, a new
way of work, a new way of innovation.” Despite his newfound wealth and
prominence, the activist spirit of Ulukaya’s youth remains as strong as
ever.
At Chobani, “fast” is serious praise. Speed is both a guiding principle
and key competitive advantage—a big part of how the company has, since
it launched in 2007, muscled its way to more than 19% of the current
overall yogurt market, hauling in some $1.5 billion in revenue in 2016.
According to Nielsen, Chobani currently owns 36% of all Greek yogurt
sales—a category that barely existed before Ulukaya came along and today
accounts for 46% of yogurt purchases. Chobani now makes nine different
product lines, including the popular Flips (yogurt with a “sidecar” of
crunch-adding dry goods such as chocolate chips and nuts), along with
several Mediterranean-style dips.
Ulukaya’s distinctive character has always defined how Chobani
operates. Ask people who work closely with him, and they’ll tell you
that there are effectively two Hamdis: the driven businessman out to
obliterate his rivals, and the empathetic humanitarian. “I’m a shepherd
and I’m a warrior,” he says when I ask about the two sides of his
personality. “I come and go between those two. I’m a nomad, and nomads
are the most real people. You can’t pretend.”
Working at Chobani
means constantly toggling between each of these bosses. “He’s an
emotion-driven guy,” says CMO Peter McGuinness. “He wants to grow the
business and be a fierce competitor. But he’s got a giant heart and
conscience and wants to do the right thing, regardless of market share,
money, all that kind of stuff.”
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