In 2006, John Mackey (Co-Founder) slashed his salary from $1 million to $1. Additionally, from that point on, proceeds from his stock options were donated to charity.
All WFM’s executives are expected to make similar, but smaller, sacrifices.
For nearly 20 years, WFM has capped compensation for top management. Today, it limits executive pay to 19 times the average full-time worker's salary.
"Fewer things harm an organization's morale more than great disparities in compensation.” John Mackey.
"When a workplace is perceived as unfair and greedy, it begins to destroy the social fabric of the organization.“ John Mackey.
Corporate Leadership & Ethics
Top compensated officers:
Mr. Walter Robb, Co-Chief Executive Officer and Director
Total annual compensation: $453.2K
Mr. John P. Mackey, Co-Founder, Co-Chief Executive Officer
Total annual compensation: $1.0
Mr. A. C. Gallo, President and Chief Operating Officer
Total annual compensation: $404.0K
Ms. Glenda J. Chamberlain, Chief Financial Officer
Total annual compensation: $381.8K
Mr. James P. Sud, Executive Vice President of Growth
Total annual compensation: $421.5K
Recent Company Strategies
Co-CEO Walter Robb announced that the company aims for 1,000 stores, including 35 in Canada.
In March 2011, WFM announced an easy to apply and low interest loan program for farmers.
Whole Foods named national retail powerhouse (ABJ)
‘Non-GMO’ seal identifies foods mostly biotech-free (NYT)
Hadlock, R (News Anchor). (September 14, 2010). Austin News KXAN. Austin: KXAN. Retrieved from http://www.youtube.com/watch?v=i3bAu6GQApE&feature=BFp&list=FL9BzvZpWGB4c&index=2
(2011). Whole Food History. Retrieved from http://www.wholefoodsmarket.com/company/history.php
(July 17, 2011). YCharts. Retrieved from http:// ycharts.com/companies/WFM/market_cap
(July 17, 2011). Y Finance. Retrieved from http:// finance.yahoo.com/q/in?s = WFM+Industry
Hamner, S. "Whole Foods CEO John Mackey slimmed down the grocery chain's executive salaries, resulting in a healthier, happier company“. CNN Money (2006). Retrieved from http://money.cnn.com/galleries/2007/biz2/0705/gallery.contrarians.biz2/3.html
Lomax, A. “Whole Foods' Cornucopia of Growth”. The Motley Fool . (July 19, 2011). Retrieved from http://www.fool.com/investing/general/2011/07/19/whole-foods-cornucopia-of-growth.aspx
Furness, A. “Whole Foods offering loans to farmers”. Austin Business Journal . (March 25, 2011). Retrieved from http://www.bizjournals.com/austin/print-edition/2011/03/25/whole-foods-offering-loans-to-farmers.html
Silva, T. “Whole Foods named national retail powerhouse”. Austin Business Journal . (July 11, 2011). Retrieved from http://www.bizjournals.com/austin/news/2011/07/11/whole-foods-named-national-retail.html
Neuman, W. “‘Non-GMO’ Seal Identifies Foods Mostly Biotech-Free”. The New York Times . (August 28, 2009). Retrieved from http://www.nytimes.com/2009/08/29/business/29gmo.html?ref=wholefoodsmarketinc