Whole Foods shareholder wants CEO ousted over health care comments

By Lisa Kerner

Charlotte, N.C., Aug. 25 - A Whole Foods Market, Inc. shareholder is seeking the removal of the company's chairman and chief executive officer after he publicly opposed President Barack Obama's proposed health-care reform.

CEO John Mackey expressed his views in an op-ed column in the Wall Street Journal on Aug. 11.

According to CtW Investment Group executive director William Patterson, Mackey "deeply offended a key segment of Whole Foods' consumer base," resulting in a boycott.

Mackey, said Patterson, did not write the column as a private citizen because he "explicitly" tied himself to Whole Foods by identifying himself as CEO.

CtW, in a Monday letter to Whole Foods lead independent director Dr. John B. Elstrott, said it asked for Mackey's removal in July after he made "ill-advised" postings on Yahoo! Finance. The shareholder also sought Mackey's removal more than two years ago.

"As a result of the board's inaction, Mr. Mackey's indiscretion has continued to place our company's brand reputation at risk," Patterson said in the letter.

CtW recommends that Mackey be removed immediately as chairman so that Whole Foods can develop a clear succession plan and remove him as CEO.

Austin, Texas-based Whole Foods owns and operates a chain of natural and organic foods supermarkets.[AM1]

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