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CtW Investment Group Calls for Whole Foods Board to Remove Chair and CEO John Mackey
Date:8/25/2009

Says Damage Caused by WSJ Op-Ed Shows Mackey is a 'Liability'

WASHINGTON, Aug. 25 /PRNewswire/ -- The CtW Investment Group called on the Whole Foods Market (NYSE: WFMI) board to remove CEO John Mackey as Chairman and to begin the process of naming a new CEO in a letter to Whole Foods' lead independent director, Dr. John Elstrott, yesterday afternoon. Citing the risk to Whole Foods' brand reputation caused by Mr. Mackey's editorial opposing President Obama's proposed healthcare reform, CtW urged the board to take immediate action to prevent continued damage in the face of a quickly-growing boycott by Whole Foods' progressive customer base.

"Mr. Mackey attempted to capitalize on the brand reputation of Whole Foods to champion his personal political views, but has instead deeply offended a key segment of Whole Foods consumer base," said CtW Investment Group Executive Director Bill Patterson. "This is not the first time Mr. Mackey's unsanctioned communications have damaged Whole Foods' image with consumers and investors. At a time when shareholders are looking for Whole Foods' management to focus on improving operations in an uncertain economy, we can not afford the risk to our Company's brand reputation caused by Mr. Mackey's indiscretion. He has become a liability and the board should begin the process of identifying a suitable replacement."

The text of CtW's letter follows:

August 24, 2009

Dr. John B. Elstrott

Lead Independent Director

c/o Director of Internal Audit

Whole Foods Market

550 Bowie Street,

Austin, TX 78703

Dear Dr. Elstrott:

Events of the past week establish yet again that John Mackey's lack
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SOURCE CtW Investment Group
Copyright©2009 PR Newswire.
All rights reserved

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