Whole Foods executive
apologizes for postings
Jul 18, 2007 12:26 PM
John Mackey, Whole Foods Market Inc’s chief executive, has issued an apology to shareholders for posting anonymous comments on the Internet about the organic and natural foods grocery chain. Meanwhile, the United States Securities and Exchange Commission has initiated a probe of the situation.
Court documents filed by the US Federal Trade Commission recently showed that Mackey had been posting messages on a Yahoo! chat forum for years. The alias he used was “Rahodeb,” an anagram of his wife Deborah’s name. Mackey’s postings touted Whole Foods and forecast bleak prospects for Wild Oats Markets Inc, a competitor his company is seeking to acquire.
Mackey previously had defended his postings, saying he "had fun doing it. Many people post on bulletin boards using pseudonyms."
The FTC has filed a lawsuit to stop Whole Foods' $565 million acquisition of Wild Oats, charging that the transaction would quash competition and raise consumer prices.
Austin TX-based Whole Foods said it was cooperating with the investigation and that its board of directors established a special committee to look into the postings.
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