Business Week reports that the Whole Foods board of directors has rejected a proposal that would have separated the jobs of CEO and chairman at the retailer, thus preserving the role of John Mackey, who holds both jobs.
Mackey has been a lightning rod for criticism since it was revealed last year that he was using a false name to post comments on Internet message boards that hyped his own company and criticized rival Wild Oats – a company that Whole Foods eventually acquired.
Mackey has been a lightning rod for criticism since it was revealed last year that he was using a false name to post comments on Internet message boards that hyped his own company and criticized rival Wild Oats – a company that Whole Foods eventually acquired.
- KC's View:
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Mackey has said that he won’t make such postings anymore, and the Wild Oats acquisition – opposed by the Federal Trade Commission (FTC) – has gone through. So it seems to me that Mackey not only has survived the minor scandal, but also is growing the company in ways that make sense … which means that diluting his role at Whole Foods would be a real mistake. After all, how often does any retailer have someone at the helm with real vision and the ability to implement it?
By the way, speaking of vision, Whole Foods announced yesterday that its new store in Glastonbury, Connecticut, “will be the first supermarket to generate most of its power on-site with an ultra- clean fuel cell from UTC Power.” I have no idea what an ultra-clean fuel cell is, but it sounds pretty cool…and consistent with the broader Whole Foods mission and strategy.
