WHOLE FOODS CHIEF ISSUES APOLOGY TO SHAREHOLDERS

In the latest development in this wacky turn of events, Whole Foods chairman and chief exec John Mackey issued an apology to shareholders Tuesday (July 17) for posting questionable messages on a financial message board under the pseudonym “Rahodeb,” an anagram of his wife's name, Deborah. Furthermore, the company says it will conduct an internal investigation into the postings to comply with the Securities and Exchange Commission (SEC) who is conducting a similar inquiry.

In a statement, Whole Foods said that the board, which has seven members, "will refrain from comment until the internal investigation is completed."

All of John’s blog posts were taken off the company website, along with a note from John that says there is a “temporary hold” on the blog.

"I sincerely apologize to all Whole Foods Market stakeholders for my error in judgment in anonymously participating on online financial message boards," John said. "I am very sorry, and I ask our stakeholders to please forgive me."

Whole Foods has an independent board of directors with the power to reprimand and even fire a CEO, so there’s always the possibility that Mackey has seen his day.

There’s no doubt John made some mistakes in posting under a pseudonym and issuing a personal blog, but there’s also no question about his success in the company. As somewhat of a local “celebrity” in Austin, TX, it seems like his goal is to be the anti-CEO, just-another-hippy-practicing-free-speech kind of guy. However, that might not be the best route for a leader of a major company. Let us know what you think at megan@winespiritsdaily.com.