May

Whole Foods, Facing Pressure Restless Investors, Shakes Up Board

John Mackey, the co-founder of Whole Foods Market, took the helm as sole chief executive last year in a bid to single-handedly revive the upscale grocer’s fortunes.

On Wednesday, facing growing pressure from restless shareholders, he brought in reinforcements.

A month after an activist hedge fund took a stake in Whole Foods and began to agitate for change, the company unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman and bringing in a new chief financial officer. It also laid out plans to improve operations and cut costs…

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Whole Foods, Facing Pressure Restless Investors, Shakes Up Board

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