Whole Foods CEO to give up title of chairman

[ProSense]

Whole Foods CEO to give up title of chairman

PHILADELPHIA – The chief executive of organic supermarket chain Whole Foods Market Inc. is giving up his title of chairman, following years of petitioning by an activist shareholder to separate the two roles.

Co-founder and CEO John Mackey is voluntarily giving up his chairmanship, a position he's held since the Austin, Texas, company's inception in 1978, according to a Thursday filing with the Securities and Exchange Commission. Mackey will remain on the board.

Whole Foods said lead director John Elstrott will become chairman. His current position will be discontinued.

At Whole Foods' annual shareholders meeting in March, CtW Investment Group, a shareholder activist group that works with union pension funds, unsuccessfully proposed that the CEO and chairman roles be separated. The grocer said it has been receiving these proposals for three years.

But in August, CtW raised the stakes by calling for the CEO's removal. The activist group said an editorial by Mackey opposing President Obama's health care plan damaged the company's reputation, especially among its left-leaning customers.

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[BeyondGeography]

1. Haven't shopped there since

[hlthe2b]

3. I popped in out of curiosity the other day....

They've always been expensive, of course, but the current pricing--especially of prepared foods is absolutely obscene IMO...I noted a small (yes, small) tray of shrimp going for $35... Geebus. Someone gave me one of their overpriced pumpkin bread "teacakes" for Christmas. It was incredibly stale (though it would not have been good if fresh)-- yet still within date I've "splurged" on some of these high priced "delicacies" in the past and they were disappointingly mediocre....


Whole Foods needs to get a grip- on their social policies and everything else.

[Happyhippychick]

4. I ran in, picked up a lasagna, went to the register and it rang up $21!!!

I told the cashier to forget it and she chastised me for not picking the thing up over my head to see what the price was. I told her that I assumed I could buy a lasagna at a grocery store for less than ordering it at a five star restaurant, my bad. And put the damn price where someone can read it without doing gymnastics.

[Raine]

9. Neither have I

not to mention they're too damned expensive. x(

[xultar]

2. Won't be going there again regardless.

[JI7]

5. doesn't matter, they are overpriced anyways

[timeforpeace]

6. Hell hath no fury like an ideologue scammed.

[high density]

7. "activist shareholder" "shareholder activist" "shareholder activist group"

Jeeze, the AP sure does hate liberals, doesn't it?

When the CEO says stupid things that incense most of their customer base then it seems wise of shareholders to revolt.

[Teaser]

11. the term seems apt

what's the problem?

[Raine]

8. self-deleted ... posted in wrong place nt

[Cha]

10. Yeah, how did that whole editorial against Health Care Reform

work out for ya, mackey?