Whole Foods CEO Steps Down from Position

Benzinga ^ | 12/25/09 | N.J. Beachum

[FromLori]

The CEO for Whole Foods Market (NASDAQ: WFMI) is relinquishing his chairman title. John Mackey is not only the CEO but also the co-founder of this company. He also held the title of chairman since 1978.

After much petitioning by some of the shareholders, Mackey decided to voluntarily give up the title of "chairman" in an effort to keep peace and to appease the activist group. Taking his place will be John Elstrott, the current lead director. When Elstrott takes over as chairman, his previous position will be discontinued. Mackey will continue to be the company's CEO.

One reason for the group's disapproval of Mackey holding both positions is due to his editorial opposing Obama's proposed health care reform. Shareholders expressed belief that this decision inevitably damaged the company's reputation. The activist group believes Mackey misused the company in an effort to advance his personal political views.

[Honorary Serb]

Y’all need to remember that shareholders do not necessarily have a real connection to a public company. Many are in it for short-term investment, for example, trying to “play the market”.

Activists also may buy blocks of shares, and then use their stock position to influence company policy. That’s what seems to have happened here—with a strong union connection.

So the board—or at least most of it—may well still want your business. (I wonder if any one in the Whole Foods management or board knows anything about the Orthodox Christian customer group, however.) Perhaps conservatives and others opposed to the anti-American muslim communist obama and his clique of creeps need to play the same game as the union goons.

[Twotone]

This is absurd. I saw Mackey on John Stossel & he said that the boycott engineered by the lefties had backfired & a “buycott” by those on our side had actually INCREASED business. Why do the good guys give up so easily? We need to learn from Clinton - hang tough! You never see the Dems resign, no matter how dirty they are. And this guy isn’t dirty!

[Ditter]

I spent a ton of money at Whole Foods on the day we supported Mackey, the store was packed that day. I shop there all the time, I like it, especially the meat department.

[rockrr]

there isn’t a Whole Foods anywhere near to me. They aren’t a store that I normally patronize. But I was taken with the story of the raging loon reaction to Mackey’s honest opinion and started shopping there. That’s now concluded.

“But” some say “He’s still the CEO”.

I don’t care. That’s not the point. Crushing his God-given right to hold and express an opinion and threatening economic extortion was the point.

The loons win another one...

[Carling]

Getting rid of the guy who built the business is the worst thing possible in this economy.

I guess I’ll start shopping at Trader Joe’s. At least they know they are leftists.

[Lesforlife]

Any chance you can influence their support of evil Planned Parenthood
which destroys their future customers?

Should be a no brainer except this is PC america and everyone
bows to the gods of convenience.

[BlueCat]

You are so right.

There is more to this story, though. The United Food and Commercial Workers Union has been trying for years to unionize WF. It hasn’t worked. The employees do not want to unionize.

The WSJ article opened the door for the “activists” to start spinning. This is a retaliatory move because of Whole Foods refusal to let in the union. It has nothing at all to do with healthcare.

Note that 99% of quotes from shareholder “activists” are from union employees or associated organizations. The drive bys are lazy. They speed dial the so called “activists” for quotes. It’s such a joke. People have no idea what goes on.

[bfree]

But union pensions exert the pressure. Hope your stock goes to 2. Why didn’t you sell at 78?

[trumandogz]

"But union pensions exert the pressure. Hope your stock goes to 2. Why didn’t you sell at 78?" What union pensions are you talking about?

If I had a crystal ball I would have sold at 78 but I did not see that the economy and stock market would crash in 2007-2008.

[trumandogz]

"But union pensions exert the pressure. Hope your stock goes to 2. Why didn’t you sell at 78?" What union pensions are you talking about?

If I had a crystal ball I would have sold at 78 but I did not see that the economy and stock market would crash in 2007-2008.

[surfer]

We should boycott WholeFoods we need to cause more damage than the liberal activists do. That is the only way they will make the right decision.

Unfortunately we are being forced to play this stupid game of intimidation but if we don’t really start to stand up this is only going to escalate.

We are supposed to live in a country where there is free speech and there is no way he should have to step down! This absurd.

At what point will people start burning things down?

[Anti-Bubba182]

The left is merciless to those not following the party line.

[trumandogz]

Any chance you can influence their support of evil Planned Parenthood which destroys their future customers?

I would have around as much luck as we had trying to convince a Republican Controlled House and Senate from 1996 to 2007 to stop funding Planed Parenthood.

[Prov1322]

•A paycheck that supports a family

•Universal health care

•A secure retirement

You clowns want these things...fine.

Then do like other risk-takers have done and START YOUR OWN BUSINESS...instead of simply demanding a paycheck from someone else.

[DryFly]

Whole Foods has a long track record of making hollow gestures to appease the lunatic fringe. They sold out their suppliers in order to appease the PETA crowd, putting numerous companies out of business or on the brink all because they did not want the granola crunching animal rights fringe to protest them. Mackey will sell anyone out just to avoid a little heat from the earth worshipping hippie types.

http://www.nytimes.com/2006/05/03/dining/03gras.html

[stephenjohnbanker]

I rarely shopped at “Whole Paycheck” anyway.