World Bank Group President Jim Yong Kim spoke with Chobani CEO & Tent Foundation Founder, Hamdi Ulukaya, about his mission to rewrite the rules of business to create shared prosperity and help refugees.
The session put a spotlight on the issue of forced displacement and the role the private sector can play. He mentioned how little the world of business is involved in tackling the forced displacement issue, adding that the topic of refugees has a branding issue that needs to be fixed. He discussed the need to move beyond typical “corporate social responsibility” programs and use the core business to drive change for refugees. He shared the story of how he first learned about the refugees resettled in the city of Utica in New York state and his efforts to employ refugees – currently a third of the company’s workforce are refugees.
Ulukaya also highlighted the need to address income inequality, which he described as "a major issue." Not only has Chobani paid double the local average wages, but they also have implemented a profit sharing program, so every employee has a stake in the company’s success.