Whole Foods CEO gets a spanking by shareholders
I could not be happier to see Whole Foods CEO—Mr. anti-universal healthcare John Mackey get a much needed smackdown.
A 2008 incident in which Whole Foods CEO John Mackey took matters into his own hands and launched an anonymous (but later high-profile) online attack on a competitor has become the impetus behind a new proposal approved by shareholders this week. The upscale grocer’s investors green-lighted a nonbinding proposal to make it easier for shareholders to oust a director whose conduct they deem inappropriate. If adopted, the proposal, which passed by a slim majority, would roll back a bylaw change that Whole Foods directors put in place in 2008 after the SEC discovered Mackey’s actions.
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