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Mackey gives up chairmanship at Whole Foods

1/4/2010

AUSTIN, Texas John Mackey, chairman and ceo of Whole Foods, announced late last month that he would give up his role as chairman of the board.

Mackey said on his blog that he decided to relinquish his role as chairman, which he has held since 1978, because, though the title hasn't been associated with any authority or responsibility since these have been shifted over to John Elstrott after he became lead director of the company in 2001, Whole Foods, has been a Target of corporate governance activists who seek separation of these roles.

 

"The members of the board and e-team tried to talk me out of giving up the title; however, I don’t believe it is in the best interest of our company or our stakeholders to devote any more time or resources to fight this misperception over a title any longer.  John Elstrott will now take the title of chairman of the board, which will accurately reflect the authority and the responsibilities that he has had for many years.  I will remain a member of the Whole Foods Market board and will continue to passionately serve as CEO, hopefully for many more years to come," said Mackey.

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